Legislation: Consumer Credit Institutions
The credit institutions that require a consumer credit licence category A licence under section 21 of the CCA 1974,) are those that
- sell goods on credit
- end money (non FCA authorised - cash/personal unsecured loans, secured loans).
- offer hire purchase terms
- collect debts - includes where a book of debts has been purchased from a creditor, such as a credit card issuer, in order for the debt to be recovered providing those debts are not collected on behalf of a third party or are the businesses own debts.