The Finance & Leasing Association (FLA) – which represents the UK credit industry – today responded to a Citizens Advice report on the proposed new system of consumer credit regulation, which is to be administered by the new Financial Conduct Authority (the successor to the current Financial Services Authority (FSA). The FLA agrees with Citizens Advice that the consumer credit market is very different from the other markets currently regulated by the FSA, and that the FCA will therefore need to adapt its approach accordingly. The FLA also supports Citizens Advice call for careful thought about the outcomes the government is trying to achieve, including which of the existing regime’s consumer protections should be retained.....Read more here: CCR Magazine - FLA comment on today’s publication of Citizens Advice Report on Consumer Finance Regulation