§ Mr. DavidTo ask the Secretary of State for Trade and Industry (1) what plans she has to amend the Consumer Credit Act 1974; [92091]
(2) what the scope is of her review of the Consumer Credit Act 1974; [92092]
(3) when the Government intends to publish its review of the Consumer Credit Act 1974 [92093]
§ Miss Melanie JohnsonIn July 2001 I announced a review of the Consumer Credit Act 1974. As part of this review I have already published consultations to extend the provisions of the Act by removing the financial limit, to make the terms for early settlement of loans fairer to consumers and to enable agreements to be concluded on line.
In August 2002 I published a progress report which can be found along with all other publications related to this review on the DTI website. This can be found on: http://www.dti.gov.uk/ccp/topics1/consumer_finance.htm
I will be publishing further consultations on reviewing the licensing regime, the provisions on extortionate credit and on simplifying the advertising regulations.