YOUR INDUSTRY
TOP 10 HOT TOPICS
- Europe
- Retail Distribution Review (RDR)
- Treating Customers Fairly (TCF)
- Payment Protection Insurance (PPI)
- FOS/FSCS
- Homeowner Mortgage Support Scheme (HMSS)
- FSA Fees
- Credit Crunch
- Claims Management Company (CMC)
- Consumer Credit Licence (CCL)
Your Industry
Current Issues
Consumer Credit Licensing
If your business offers any kind of regulated consumer credit or hire, or you are involved in regulated activities relating to consumer credit or consumer hire, to comply with the requirements of the Consumer Credit Act (CCA), firms must hold a Consumer Credit Licence (CCL).
Under the CCA the Office of Fair Trading (OFT) must be satisfied that firms are fit to engage in the activities identified on the licence application before it issues a licence.
On 6th April 2008 the OFT revised their existing CCL requirements for firms and the changes for firms came into effect in October of last year.
As a result AMI produced a factsheet – Consumer Credit Licensing (CCL), to assist members understanding of the categories their firm needed to apply for. Members will be able to access this factsheet shortly. **Please check back soon**