Branch2 Intelligence
Phone contract comparisons 'amounted to mis-selling' student loans, MPs say
Key takeaway
MPs' report labels student loan contract comparisons as mis-selling, citing retrospective term changes.
- Step 11st-order: MPs' report labels student loan contract comparisons as mis-selling, triggering regulatory and media backlash.
- Step 22nd-order: FCA likely investigates, forcing lenders to review past sales and potentially compensate borrowers.
- Step 33rd-order: Compliance costs rise for lenders and comparison sites; tighter marketing rules reduce new loan volumes.
Source: BBC News — Business
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