Regulation

Our consumer credit businesses are regulated and supervised by the Financial Conduct Authority. The FCA took over responsibility for regulating consumer credit firms from the Office of Fair Trading in April 2014.

The first of our consumer credit businesses submitted its application for full FCA authorisation in February 2015. Every credit business in the UK will need to be authorised by the FCA if it wants to continue to provide consumer credit products.

The process of FCA authorisation has been transformative for our consumer credit businesses. We are making changes to the way we operate and we are working with the FCA to ensure our businesses exceed the expectations of both regulator and customers alike. We are building a sustainable, responsible and profitable business that will serve customers and communities for the long run.

For the regulator, ensuring ‘good customer outcomes’ is key. We share this goal and have restructured our business around it.  The customer’s interests come first at every stage of the lending process.

At the same time, we remain responsive to changing customer needs. The departure of so many payday businesses will create a different market place. We are changing our offer and bringing new products to customers based on what they want and need.

Our brands