The need for a Consumer Credit Licence has been the subject of debate in many Credit Union boardrooms over the last year. The Financial Conduct Authority (FCA) have added a new page to their website on Regulating Consumer Credit for Credit Unions which adds some further guidance. The page has details about when Credit Unions need licensed as well as links to the relevant forms. The page can be found by clicking here and we would advise any Credit Union which is not sure on the rules to review this page.
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