Consumer credit regulation: the journey so far

On the 7 April Tracey McDermott, Acting Chief Executive of the FCA, delivered a speech at the Credit Summit and outlined the journey consumer credit has been on since the FCA took over responsibility.

On1 April 2014 around 50,000 firms transferred with interim permission from the OFT to the FCA. Since then the FCA has reviewed over 30,000 applications for authorisation including applications from over 8,000 firms that were new to the consumer credit market.

During her speech Ms McDermott outlined the priorities for the FCA with regards to consumer credit.  You can read her words in full here