Subject Predicate Object
S8dGlG6W
a
Resource
Answer
Written answer
answer has question
P9IOZBVu
answer has answering person
John Philip Glen
answer text
<p>The Government has fundamentally reformed regulation of the consumer credit market, including high-cost credit, transferring regulatory responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet the needs of all consumers.</p><p> </p><p>The Government welcomed the FCA’s update on it’s high-cost credit review in May. The FCA has identified a need to intervene to protect vulnerable consumers in the rent-to-own market, and is considering a cap on the cost of rent-to-own. The government will continue to work with the FCA to ensure that all high-cost credit customers are treated fairly.</p>
answer given date
answer has answering body
HM Treasury
written answer has answering body
HM Treasury
HM Treasury
answering body has written answer
S8dGlG6W
answering body has answer
S8dGlG6W
P9IOZBVu
question has answer
S8dGlG6W
John Philip Glen
answering person has answer
S8dGlG6W