FCA emphasizes that financial contracts must be fair and transparent
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AI-assisted source synthesis · not an independent investigation.
On November 6, 2026, the UK Financial Conduct Authority (FCA) said it is reviewing financial services firms’ consumer-facing contracts under the Consumer Rights Act 2015. The FCA requires firms to delete or amend unfair or opaque terms and provide compensation to consumers when such terms cause harm. Firms may also apply for a court injunction to prevent unfair terms from continuing to be enforced, or apply for a court order requiring compensation. Cases cited by the FCA include eliminating cryptoasset storage fees that could exceed £40,000 per year and paying £18,000 in compensation to a customer whose travel insurance claim was wrongly rejected.
AI-written from reports · updated 10 hours ago
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- FCA (UK)FCA: Require consumer contract terms to be fair and transparent
FCA reviews financial services firms’ consumer contracts under the Consumer Rights Act 2015 (CRA), requiring them to remove or amend unfair and opaque terms, and compensate consumers when harm is caused. Firms can also apply for a court injunction to prevent terms from being enforced, or seek a court order requiring compensation; cases include cancelling cryptoasset custody fees that could exceed £40,000 a year, and paying £18,000 in compensation to a customer whose travel insurance claim was wrongly rejected.
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