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The Finance and Leasing Association (FLA), which represents consumer and small business finance providers, has given its support to the Financial Services Consumer Panel (FSCP), which today called for the Consumer Credit Act (CCA) to form the basis for any new regulatory regime. Stephen Sklaroff, Director General of the FLA, said: “The FSCP is right that future changes to consumer credit regulation should start with the Consumer Credit Act.
"Whether or not regulation transfers to the new Financial Conduct Authority (FCA), the regime which the FCA will inherit in the deposit and savings markets is not appropriate for credit, and would put at risk a significant amount of responsible and economically vital consumer and small business lending.”.........Read more here--: CCR Magazine - CCA is the right starting point for future consumer credit regulation - FLA responds to FSCP
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