- Home-credit lender Morses Club said it was already prepared to deal with 'many of the changes' announced today by UK regulators and didn't expect them to hurt the business.

The Financial Conduct Authority has proposed stricter rules regarding overdrafts and home-credit lending.

'Our sophisticated IT platform is already set up to deliver many of the changes announced by the FCA today,' chief executive Paul Smith said.

Smith added that Morses Club had advanced plans to take customer communication 'even further' in early 2019.

'We were glad to contribute to this consultation, thank the FCA for their positive comments regarding the home credit sector, and consider that these changes are unlikely to have an adverse impact on our business,' he said.

At 1:50pm: [LON:MCL] Morses Club Plc share price was +0.25p at 136.25p

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