Regulation of Consumer Credit Business by the Financial Conduct Authority

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Abstract
This chapter discusses the Financial Conduct Authority's (FCA) regulation of the consumer credit industry. It begins with an introduction to the consumer credit regime. It then details the scope of regulated credit-related activities, covering the rules for entering into a regulated credit agreement; entering into a regulated consumer hire agreement; operating an electronic system in relation to lending; credit broking; and debt adjusting, debt-counselling, debt-collecting and debt administration. This is followed by discussions of the authorisation, supervision, and enforcement of credit-related activities and credit firms by the FCA; conduct of business standards; and the rights of action and complaints to the Ombudsman.

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