Regulatory Academy

'The Government's proposals to reform the Consumer Credit Act 1974'

In the next session in the Regulatory Academy webinar series, we will focus on the Government’s proposals to reform the Consumer Credit Act 1974. Reform is long overdue with the current legislation and regulatory regime struggling to keep up with new products and technological innovations in how people now engage with credit.

The consultation will take place in two phases:

• Phase 1 consultation outlines the Government’s overall vision for a reformed regime, as well as its approach to information requirements, sanctions, and criminal offences. Consultation closes on 21 July 2025 to be followed by a response
• Phase 2 consultation will set out how the Government intends to reform the scope of regulation and rights and protections under the Consumer Credit Act.

This webinar will focus on the proposals in Phase 1 and its potential implications. Whilst the Government is not yet able to provide the detail regarding Phase 2 we will also consider the limited information has been disclosed.