LSB’s latest bulletin covers the Government and Financial Services Authority (FSA) consultation on the future regulation of consumer credit. LSB supports a single statutory regulator and is pleased that the consultations recognise the value of industry codes. It notes FCA is likely to place less reliance on the work of LSB than the Office of Fair Trading has done, but LSB believes there would be significant benefits in developing a good working relationship with FCA in accordance with the Memorandum of Understanding already in place. It also says independent monitoring is important, and so long as subscribers continue to support the Lending Code it believes it should have a long-term future.

(Source: LSB Publishes Bulletin, LSB Responds to FCA Consumer Credit Consultation and LSB Responds to Government Consumer Credit Consultation)