§ Mr. Loydenasked the Secretary of State for Trade and Industry (1) what steps he intends to take to strengthen the enforcement of the Consumer Credit Act 1974 in regard to illegal moneylending;
(2) what representations he has received about the problems of illegal moneylenders from the Association of Metropolitan Authorities and other organisations;
(3) what steps he intends to take to help deal with the problem of illegal moneylenders.
§ Mr. FletcherI consider that the present protection against illegal moneylending is adequate. The Consumer Credit Act requires moneylenders to be licensed by the Office of Fair Trading. It is an offence punishable by fine or imprisonment to carry on a consumer credit business without a licence. Enforcement is a matter for the Office of Fair Trading and local trading standards departments. The resources available to local authorities to employ trading standards officers were increased following the enactment of the Consumer Credit Act and the resources 341W available for consumer protection are reviewed annually. I have received no representations from either the Association of Metropolitan Authorities or other organisations about the problems of illegal moneylenders.