The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
The BBA has submitted a detailed response to the FCA consultation on draft rules for the regulation of Consumer Credit.
Although we are supportive of having a single statutory regulator for retail financial services we do have concerns about the accelerated timetable for creating and implementing the new regime. Our response identifies the key conduct changes required by the draft FCA rules and challenges the FCA’s assertion that the new regime equates to a ‘steady state’ transposition of current regulatory requirements. We seek clarification of a number of draft provisions and identify where the draft rulebook conflicts with existing legislative and regulatory requirements.
The response can be found below.
For more information please contact firstname.lastname@example.org
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