Offering credit to consumers: the law

You must be authorised by the Financial Conduct Authority (FCA) to offer credit to consumers.

Authorisation and rules you must follow

You must show you meet FCA바카라 사이트™s minimum standards to be authorised. This includes ensuring your firm has a suitable business model and is well run by 바카라 사이트˜fit and proper바카라 사이트™ people.

Find out how to

You must follow rules for running your business and treating customers, including:

What you need consumer credit authorisation for

You must check if your firm바카라 사이트™s proposed business means you need FCA authorisation to carry out regulated consumer credit activities such as:

  • selling goods or services on credit (including hire purchase)
  • hiring or leasing out goods for more than 3 months
  • lending money
  • issuing credit cards
  • arranging credit for other people
  • collecting or purchasing consumer credit debts
  • helping people with debt problems or advising on people바카라 사이트™s credit standing

Any business offering credit or financing to customer must be authorised by FCA, not just credit specialist companies. This includes non-profit organisations.

Business to business lending

You don바카라 사이트™t need to be authorised if you only offer credit to another business, unless your customer is:

  • a sole trader
  • a partnership with fewer than 4 partners
  • an unincorporated association

If you offer credit to these customers, you probably need to be authorised.

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