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The number of consumer credit licences revoked annually by the regulator has more than doubled since 2008/09. There were 39 consumer credit licenses revoked by the Office of Fair Trading (OFT) during 2010/11, up from 16 revoked in 2008/09, and also up from the 27 licences revoked in 2009/10. The number of consumer credit licences surrendered has also increased in the last five years, after dropping from 932 surrendered during 2006/07 to 338 the following year (2007/08).
Since that period, the number of licences surrendered has climbed steadily, reaching 515 for the period 2010/11, up from 476 during 2009/10. The figures were revealed by consumer minister Ed Davey during parliamentary questions, in response to a query from dr Eilidh Whiteford, MP for Banff and....Read more here---> Credit licence revocations more than double
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