Related provisions for CONC 2.5A.2
1 - 1 of 1 items.
1This section applies to a firm which owns or operates a website that displays any terms on which high-cost short-term credit products are available from different lenders (referred to in this section as a “price comparison website”) and in relation to which it:(1) holds itself out as providing a price comparison service or a price service; or(2) describes itself in any way as a price comparison website or a price website; or(3) gives the impression in any way that the website
A firm must ensure that the price comparison website enables: (1) a customer to enter the value and duration of the customer’s desired loan when specifying the criteria for a search; and (2) a search to be made of the high-cost short-term credit products covered by the website and the results of the search to be displayed on the basis of only that information.
In response to a request to perform a search for a high-cost-short-term credit product, the firm must ensure that the price comparison website:(1) displays specific information relating to each loan covered by the website which corresponds to the search criteria entered by the customer as a separate result; (2) ranks those results in order of total amount payable in accordance with CONC 3.5.5R(2), with the loan with the lowest total amount payable first and the highest last; and