AFB Calls For New Secured Loans Laws
Following the publication of new white paper on the future of the future regulation of the secured loans industry, the Association of Finance Brokers (AFB) has called upon intermediaries to give their thoughts.
It is calling for responses on a number of secured loans regulation issues by September 20th. Among the proposals included in the paper is the option to remain under regulatory control of the Office of Fair Trading and the Consumer Credit Act, or to concede all regulatory powers to the Financial Services Authority (FSA). The group noted that – against the backdrop of the implementation of the Europe-wide Consumer Credit Directive – it is inevitable that the regulatory landscape of the secured loans industry will undergo substantial transformation.






