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How are credit / finance uk companies regulated?


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Written on: 04.11.2009 [14:38]
Balaji
Balaji
Topic creator
Posts: 3
After hearing so many horror stories about consumers getting raked over the coals by their loan companies, can I ask if anyone knows how credit or finance UK companies are regulated by the authorities?
Written on: 06.11.2009 [14:05]
Jessy
Jessy
Posts: 3
There are international financial regulation and supervision rules doled out by the IMF: the International Monetary Fund. Of course rules will probably (hopefully) get tighter since this crisis hit and people realised that previous regulations were too lax, or perhaps just not enforced. According to their website, the IMF try to enable 'monetary and financial policy transparency', but they may well be involved only at the highest level. What about the Trading Standards Institute? They are government owned and hopefully have their eyes open to ensure the best deal for the average consumer!
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