Consumer organisations believe Class Order 14/41 should be allowed to expire in March 2022. This instrument no longer serves a regulatory purpose in light of the major reforms that have taken place in consumer credit reporting. We believe the continued operation of CO 14/41 will create confusion in a regulatory area that is already extremely complex and confusing for all stakeholders. The continued operation of CO 14/41 will have a detrimental impact on consumers, in particular causing harm for consumers that need a notification in writing of the terms of any hardship arrangements they have agreed to, even if they are for less than 90 days.
