This Overview provides a guide to the Financial Services content within the Consumer credit regime subtopic, with links to appropriate materials. For information on other aspects of the consumer credit regime, see related materials referenced in Consumer credit agreements—overview, Debt management and advice—overview, Consumer credit advertising—overview and Consumer credit—ombudsman and guidance—overview.
On 1 April 2014, the Financial Conduct Authority (FCA) assumed responsibility for consumer credit regulation from the Office of Fair Trading (OFT) (which ceased to exist). The FCA became the conduct supervisor for all regulated firms across the consumer credit sector, including credit card issuers, hire purchase firms and payday loan lenders. The FCA also became the prudential supervisor for debt management firms.
Further information can be found in Practice Note: Consumer credit—essentials and the UK Consumer credit—timeline. A guide to the consumer credit materials available in Goode on Consumer Credit can be found in Practice Note: Goode on Consumer Credit—materials.
All firms which carry out consumer credit activities and which are unable to rely on any of the exemptions in the
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