YOUR INDUSTRY
Top 10 Hot Topics
- Consumer Credit Licensing
(CCL) - Advertising
- Europe
- OFT
- Claims Management Firms (CMC)
- Treating Customers Fairly (TCF)
- Payment Protection Insurance (PPI)
- FSA Fees
- FOS/FSCS
- FAQs
Your Industry
Current Issues
Consumer Credit Licensing
If your business offers any kind of regulated consumer credit or hire, or you are involved in regulated activities relating to consumer credit or consumer hire, to comply with the requirements of the Consumer Credit Act (CCA), firms must hold a Consumer Credit Licence (CCL).
Under the CCA the Office of Fair Trading (OFT) must be satisfied that firms are fit to engage in the activities identified on the licence application before it issues a licence.
On 6 April 2008 the OFT revised their existing CCL requirements for firms and the changes for firms came into effect in October of last year.
As a result, AFB produced a factsheet – Consumer Credit Licensing, to assist members understanding of the categories their firm is now required to apply for. Members can access the factsheet HERE.