Information for businesses

Informing and supporting businesses in the
home credit industry

Current issues

FCA - Interim Permission

The FCA have now written to everyone telling them how to register for Interim Permission. Full information on FCA website.

Most recent information recieved from the FCA:

  • FCA Letter outling what you need to do, how much it will cost and how to get a discount
  • FCA leaflet with frequently asked questions and further detail about Interim Permission
  • Step by step guide to Interim Permission

OFT consultation on the power to suspend credit licences

The OFT has been granted new powers to suspend credit licences. The new rules enable the OFT to suspend a licence for a period of 12 months from the date notice is given.

Members can view the CCA’s response to the consultation in the Members’ section of the website.

Consumer Law reform proposals

The government has published two additional draft regulations implementing consumer law reform proposals as well as those covered in the Draft Consumer Rights Bill.  

The Draft Consumer Protection from Unfair Trading (Amendment) Regulations 2013 will enhance the opportunities for redress for victims of misleading and aggressive practices. It aims to provide consumers with clearer and simpler routes to redress for misleading and aggressive commercial practices and will introduce:

  • A private right of redress for consumers who have been victims of misleading or aggressive practices
  • Standard remedies for those victims
  • Entitlement to seek damages

These Regulations amend the Consumer Protection from Unfair Trading Regulations 2008 (S.I. 2008/1277) (“the 2008 Regulations”). They provide consumers with rights to redress in respect of misleading and aggressive commercial practices and do apply to the selling of consumer credit products, as did the 2008 Regulations.

The Draft Consumer Contracts (Information, Cancellation and Additional Payments) Regulations 2013 implement the European Consumer Rights Directive and cover three main areas of consumer rights:

  • Information which traders should provide to consumers
  • Cancellation rights and responsibilities for distance and off-premises sales
  • Measures to prevent hidden costs

Further Information:


CCA News

CCA News - January 2015 cover

Our quarterly magazine, CCA News, keeps our members up to date with all the latest news and issues affecting the home credit industry.

Download CCA News