Loan Introducer
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
  • Commercial
  • Residential
  • Secured
  • Short Term
  • Unsecured
Facebook LinkedIn Twitter

Time: 0:0

Ryan Fowler

Consumer credit market comes under FCA control

01 April, 2014

By: Ryan Fowler

category: Secured, Short Term, Unsecured

0

The Financial Conduct Authority has formally taken responsibility for regulating the £200bn consumer credit market.

Some 50,000 businesses which offer some form of credit to the UK consumer will now be subject to the FCA’s consumer protection rules and Principles for Business.

This means every person that uses a credit card, has an overdraft, seeks help from a debt management firm, or takes out a loan will be better protected than before.

Martin Wheatley, chief executive said Financial Conduct Authority, said: “We have a big task ahead; it’s our job to make sure firms put their customers at the heart of their business and don’t just see them as an easy target or a profit line.

“We won’t shy away from taking tough, decisive action to make sure that the people who rely on these products are treated fairly.

“There will be some firms that don’t get the message, or won’t play ball, those firms should know that we won’t let them carry on.”

The 50,000 businesses will now join the 27,000 already regulated by the FCA.


Tags: FCA, lending, loan, loans, Protection

Recent News

Evolution Money launches second-charge tracker

08 April, 2021

Loans Warehouse: Business as usual for second charge market

12 January, 2021

Loans Warehouse appoints former OneSavings Bank director

12 January, 2021

Shawbrook increases maximum loan size across second charge offering

12 January, 2021

Comments are closed.

Polls

Will the next six months see an increase in second charge business?

View Results

Loading ... Loading ...
BACK TO TOP

Blog

Blog: Regulation, regulation, regulation

28 January, 2016

  • 0

BLOG: The need to shop around

27 October, 2015

  • 0

Experience is everything

28 March, 2013

  • 0

Tags

  • ‘The LM Experience’
  • £50m
  • 1st HomeLoans
  • 1st Stop Group
  • 247Moneybox
  • 360 Lifecycle
  • 75% LTV
  • 85% LTV
  • Aaron Noone
  • ABC
  • Abhai Rajguru
  • Access 4 Finance
  • Access4Finance
  • Accord
  • acquisition
  • Adam Tyler
  • Adelle Rhule-Martin
  • Adrian Moloney
  • Advertising Standards Agency
  • Advertising Standards Agnecy
  • Home
  • News
  • Latest Issue
  • Mortgage Rates
  • House Price Centre
  • Blog
Facebook LinkedIn Twitter

© CEDAC Media Limited | Terms & Conditions

Advice to readers

While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.


© Mortgage Introducer Limited: Our Privacy and Cookies Policy

TPG

www.mortgageintroducer.com
www.investmentinternational.com
www.homebuying.co.uk
www.propertywire.com
www.everyinvestor.co.uk

Close

Enter the site

Login

Password

Remember me

Forgot password?

Login