Consumer Credit Regulatory Support
Comprehensive FCA regulatory support for consumer credit activities including lending, credit facilitation, debt management, and debt collection. We help you meet FCA requirements to lend responsibly, treat customers fairly, and maintain robust compliance monitoring.
Consumer Credit Permission Types
The FCA offers two types of consumer credit permissions based on your business model
Limited Permission
Secondary or Complementary Activities
For firms where consumer credit is not the primary business activity
- Consumer credit activities are ancillary to main business
- Simplified application process
- Lower regulatory burden
- Suitable for businesses offering credit as a secondary service
Full Permission
Primary Business Activity
For firms whose main business involves consumer credit activities
- Consumer credit as core business function
- Comprehensive regulatory requirements
- Full FCA supervision and oversight
- Required for lending, debt collection, or credit broking as primary activity
Core FCA Requirements
Essential compliance obligations for consumer credit firms
Lend Responsibly
- Comprehensive affordability assessments
- Creditworthiness checks and verification
- Appropriate lending decisions based on customer circumstances
- Fair pricing and interest rate structures
Treat Customers Fairly
- Clear and transparent communication
- Fair treatment throughout customer lifecycle
- Appropriate support for customers in financial difficulty
- Complaints handling and resolution procedures
Compliance Monitoring
- Regular compliance oversight and reviews
- Management information and reporting systems
- Internal audit and quality assurance
- Ongoing regulatory change tracking
Pre-Authorization Services
Comprehensive support to help you achieve FCA consumer credit authorization
Business Assessment
- Detailed fact-finding and business model analysis
- Activity classification and permission scoping
- Threshold conditions assessment
- Gap analysis against FCA requirements
Regulatory Business Plan
- Comprehensive business plan preparation
- Financial projections and capital adequacy
- Risk assessment and mitigation strategies
- Compliance monitoring framework design
Application Support
- FCA Connect application completion
- Supporting documentation preparation
- FCA query response management
- Application tracking and liaison
Post-Authorization Services
Ongoing compliance support to maintain your FCA authorization
Ongoing Compliance
- Regular compliance health checks and reviews
- Regulatory change impact assessments
- FCA return and reporting support
- Annual compliance monitoring oversight
Policies & Procedures
- Comprehensive compliance manual development
- Policy and procedure documentation
- Staff training materials and programs
- Regular policy review and updates
Compliance Monitoring
- Monitoring plan design and implementation
- Management information framework
- File review and quality assurance
- Compliance testing and reporting
Consumer Credit Activities We Support
Regulatory guidance across all consumer credit sectors
Lending
Credit Facilitation
Debt Management
Debt Collection
Expert Consumer Credit Guidance
Our team of ex-regulators and compliance specialists brings deep expertise in consumer credit regulation. We provide practical, tailored solutions to help you meet FCA requirements and maintain ongoing compliance in this complex and evolving regulatory landscape.
Responsible Lending
Fair Treatment
Robust Monitoring
Need Consumer Credit Regulatory Support?
Contact our expert team for guidance on consumer credit authorization and compliance
Phone: 0330 133 0811
Email: contact@memaconsultants.com