| Consumer Credit Licence |
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Information AboutConsumer Credit Licence |
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In the United Kingdom, the Consumer Credit Act 1974 regulates the commercial provision of money loans and of good and services on credit to consumers. Consumer credit licences are issued by the Consumer Credit Licensing Bureau which is part of the Office of Fair Trading (OFT) Examples of businesses that may be required to obtain consumer credit licences are:
However, it is possible to lawfully lend money to consumers without holding a consumer credit license if certain conditions are met. A lending exchange operated by Zopa Ltd allows people who are not lending in the course of business to offer unsecured personal loans to other UK residents. EXTERNAL LINKS
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