Office of the Leader of the House of Commons

Consumer Credit Act

Key Benefits Protects vulnerable consumers and serves to create a fairer and more competitive credit market by: enhancing consumer rights and redress by empowering consumers to challenge unfair lending and through providing more effective options for resolving disputes; improving the regulation of consumer credit businesses by ensuring fair practices and through targeted action to drive out rogues; and focussing regulation and protection on the agreements and borrowers where it is most needed and to create a fairer regime for business.

Act of Parliament

Explanatory Notes

Regulatory Impact assessment

Comments

If you have any comments you can email them to:

correspond@dti.gsi.gov.uk

Additional Information

The Act is the final stage in the reform package set out in the 2003 White Paper, "Fair, clear and competitive: the consumer credit market in the 21st century". The Bill was included in the Legislative Programme during the last session of the 2001 Parliament but fell prior to the 2005 General Election.

Useful links:

Consumer Credit Act 1974

Consumer Credit Review

Citizens Advice

Finance and Leasing Association

National Consumer Council

British Bankers' Association

Money Advice Scotland





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