The Consumer Credit Act

The Consumer Credit Act (CCA) was initially introduced in 1974 to protect consumers and some small businesses which used credit to buy goods and services in the UK. 

Numerous provisions were made under the CCA, which was reviewed and amended in 2006, and further provisions were brought into force in the UK in 2010 as a result of the European Consumer Credit Directive (which had been adopted in Europe in 2008).

With effect from 1 April 2014, the Financial Conduct Authority (FCA), which has assumed responsibility for regulating consumer credit (see ‘The Financial Conduct Authority (FCA)' module). The specific rules for firms carrying our consumer credit activities are set out in the FCA's Consumer Credit Sourcebook (referred to as ‘CONC'). CONC is available here.