The Financial Services Authority (FSA) has published its consultation on how it plans to introduce a “strong” and “flexible” regime to regulate consumer credit. The regime is tailored to address the risks that face consumers without putting undue burdens on firms. The government announced earlier today (6 March) that it will transfer responsibility for regulating consumer credit from the Office for Fair Trading (OFT) to the Financial Conduct Authority (FCA) by 1 April 2014. The government has also published a consultation on the legislative changes needed to transfer responsibility to the FCA.....Read more here