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unusual facts about consumer credit



United States House Financial Services Subcommittee on Financial Institutions and Consumer Credit

The subcommittee oversees all financial regulators, such as the Federal Deposit Insurance Corporation and the Federal Reserve, all matters pertaining to consumer credit including the Consumer Credit Protection Act and access to financial services, as well as the safety and soundness of the banking system.


see also

Callcredit

Callcredit, Equifax and Experian gain information about consumers’ credit records from various sources including banks, building societies and lenders that have granted the consumer credit.

Collection agency

In the United Kingdom third-party collection agencies that pursue debts regulated by the Consumer Credit Act must hold a Consumer Credit Licence and work within the framework of the 2003 fair debt collection guidance; licences are issued and regulated by the Office of Fair Trading.

Director General of Fair Trading v First National Bank plc

Usually lower statutory interest rates apply under the County Court (Interest on Judgment Debts) Order 1991, but this it excluded judgment debts on consumer credit agreements under the Consumer Credit Act 1974.

Geoffrey Crowther, Baron Crowther

In 1971, he authored the Report of the Committee on Consumer Credit, the "Crowther Report", whose recommendations led to the Consumer Credit Act 1974.

Representative example

Until 2010, any financial services provider advertising a product in the UK, whether it is a credit card, loan or mortgage, have had to comply with the Consumer Credit (Advertisement) Regulations 2004 (2004 Regulations).