Policy paper

Financial Conduct Authority review of retained provisions of the Consumer Credit Act: final report

In line with its statutory duty, the Financial Conduct Authority has reviewed the retained provisions of the Consumer Credit Act 1974, and set out its findings in this report.

• From: Financial Conduct Authority
• Published: 25 March 2019

Documents

Review of retained provisions of the Consumer Credit Act: final report

Ref: ISBN 978-1-912809-40-0

Unnumbered act paper

PDF, 2.3 MB, 153 pages

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Details

In 2014, the government fundamentally reformed the consumer credit market, by transferring regulation from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). As part of the transfer, the FCA was required in regulation 20 of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 to undertake a review of the ‘retained provisions’ of the Consumer Credit Act 1974, and submit a report to the Treasury by 1 April 2019.

In February 2016 the FCA published a call for input setting out its approach and seeking responses from stakeholders. In August 2018, the FCA published an interim report, which set out initial views and invited feedback. The FCA has now completed this review, and published its final report.

Published 25 March 2019