§ Mr. GardinerTo ask the Secretary of State for Trade and Industry (1) what plans she has to tighten the regulation of advertising relating to consumer credit; [6634]
(2) what proposals she has to update the Consumer Credit Act 1974. [6631]
§ Miss Melanie JohnsonI published a consultation paper "Tackling loan sharks—and more!" on 25 July outlining my plans for updating our consumer credit legislation. In carrying out this review our key objectives will be to develop a new consumer credit regime that
targets rogue tradersreduces burdens on legitimate businesses reflects market changes on consumer creditprovides timely and effective advice to consumers and greater transparency when they take out loans.Copies of the consultation paper are available in the Library of the House.