UK Makes Digitally-Focused Updates to Decades-Old Credit Law

Regulators in the United Kingdom said in a Monday (May 18) news release that they are ready to update the country’s 52-year-old Consumer Credit Act . The changes are designed to help consumers make wiser financial decisions by giving them clearer information when using credit cards, loans and overdrafts, the U.K. “People need to be able to make informed choices when applying for and using credit,” Rachel Blake , economic secretary to the Treasury and city minister,