Nine out of 10 consumer credit firms with FCA

Robyn Hall

March 7, 2014

This allows a firm to continue to offer consumer credit services such as personal loans, car finance and retail credit.

Firms with an Office of Fair Trading Consumer Credit Licence that want to continue providing credit for customers after 31 March 2014 must register for permission before April 1.

Businesses who continue to offer credit to customers without permission will be acting illegally.

Some 45,823 firms, of an estimated 51,528 in the consumer credit space, have now registered for interim permission.

Firms will be invited to apply for full authorisation from October 2014.

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