Warning on unfair consumer contracts
1 February 2012
Terms on many consumer contracts are still regularly unfair to consumers despite the publication of guidance on the subject, according to a warning from the Financial Services Authority (FSA).
The financial watchdog has warned that action will be taken where companies do not improve their consumer contracts, highlighting terms that give firms the right to unilaterally vary or terminate the contract as a particular area of concern.
The warning has been described by legal experts as signalling a ‘last chance’ for companies to comply with FSA regulations.
Source: Credit Today