The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis

Daniel Jasinski

doi:10.4324/9781315652009

The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis

Daniel Jasinski

Research output: Contribution to Book/Report › Chapter › peer-review

Abstract

This chapter analyses the Financial Conduct Authority's (FCA's) approach to regulating the market from a consumer protection perspective. It provides an analysis of the Consumer Credit Act 1974 (CCA74), in particular the elements that can be invoked by consumers to seek redress for harm caused to them by financial institutions. The chapter examines the impact of the FOS on the level of protection afforded to consumers under the CCA74. It reflects on the powers and performance of the Office of Fair Trading (OFT), with particular reference to the comparable elements of the Financial Services and Markets Act 2000 (FSMA) regime, enforced by the Financial Services Authority (FSA). The chapter considers the regulator-led mechanisms of redress available to the OFT to compensate consumers who have lost out at the hands of unscrupulous credit providers. It considers the approach of the FCA and consists of an analysis of the approach to the regulation of consumer credit market by the United States.

Original language	English
Title of host publication	The Financial Crisis and White Collar Crime – Legislative and Policy Responses
Subtitle of host publication	A Critical Assessment
Editors	Nicholas Ryder, Umut Turksen, Jon Tucker
Publisher	Routledge, Taylor & Francis Group
Chapter	8
Pages	129 - 177
Number of pages	49
Edition	1
ISBN (Electronic)	9781315652009
ISBN (Print)	978-1-138-11997-0, 9780367030315
DOIs	https://doi.org/10.4324/9781315652009
Publication status	Published - 8 Jan 2019

Publication series

Name	The Law of Financial Crime

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

Keywords

Financial Conduct Authority (FCA)
Consumer Credit Act 1974 (CCA74)
Office of Fair Trading (OFT)
Financial Services and Markets Act 2000 (FSMA)
Consumer protection

Access to Document

10.4324/9781315652009

Jasinski_2019_The_FCA_protecting_consumers_of_the_consumer_credit_market_in_the_wake_of_the_financial_crisisAccepted author manuscript, 786 KBLicence: CC BY-NC-ND

Cite this

Jasinski, D. (2019). The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis. In N. Ryder, U. Turksen, & J. Tucker (Eds.), The Financial Crisis and White Collar Crime – Legislative and Policy Responses: A Critical Assessment (1 ed., pp. 129 - 177). (The Law of Financial Crime). Routledge, Taylor & Francis Group. https://doi.org/10.4324/9781315652009

@inbook{1e7403d9c91c40db9507aee0cfbcc570,

title = "The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis",

abstract = "This chapter analyses the Financial Conduct Authority's (FCA's) approach to regulating the market from a consumer protection perspective. It provides an analysis of the Consumer Credit Act 1974 (CCA74), in particular the elements that can be invoked by consumers to seek redress for harm caused to them by financial institutions. The chapter examines the impact of the FOS on the level of protection afforded to consumers under the CCA74. It reflects on the powers and performance of the Office of Fair Trading (OFT), with particular reference to the comparable elements of the Financial Services and Markets Act 2000 (FSMA) regime, enforced by the Financial Services Authority (FSA). The chapter considers the regulator-led mechanisms of redress available to the OFT to compensate consumers who have lost out at the hands of unscrupulous credit providers. It considers the approach of the FCA and consists of an analysis of the approach to the regulation of consumer credit market by the United States.",

keywords = "Financial Conduct Authority (FCA), Consumer Credit Act 1974 (CCA74), Office of Fair Trading (OFT), Financial Services and Markets Act 2000 (FSMA), Consumer protection",

author = "Daniel Jasinski",

year = "2019",

month = jan,

day = "8",

doi = "10.4324/9781315652009",

language = "English",

isbn = "978-1-138-11997-0",

series = "The Law of Financial Crime",

publisher = "Routledge, Taylor \& Francis Group",

pages = "129 -- 177",

editor = "Nicholas Ryder and Umut Turksen and Jon Tucker",

booktitle = "The Financial Crisis and White Collar Crime {\textendash} Legislative and Policy Responses",

address = "United Kingdom",

edition = "1",

}

Jasinski, D 2019, The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis. in N Ryder, U Turksen & J Tucker (eds), The Financial Crisis and White Collar Crime – Legislative and Policy Responses: A Critical Assessment. 1 edn, The Law of Financial Crime, Routledge, Taylor & Francis Group, pp. 129 - 177. https://doi.org/10.4324/9781315652009

The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis. / Jasinski, Daniel.
The Financial Crisis and White Collar Crime – Legislative and Policy Responses: A Critical Assessment. ed. / Nicholas Ryder; Umut Turksen; Jon Tucker. 1. ed. Routledge, Taylor & Francis Group, 2019. p. 129 - 177 (The Law of Financial Crime).

Research output: Contribution to Book/Report › Chapter › peer-review

TY - CHAP

T1 - The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis

AU - Jasinski, Daniel

PY - 2019/1/8

Y1 - 2019/1/8

N2 - This chapter analyses the Financial Conduct Authority's (FCA's) approach to regulating the market from a consumer protection perspective. It provides an analysis of the Consumer Credit Act 1974 (CCA74), in particular the elements that can be invoked by consumers to seek redress for harm caused to them by financial institutions. The chapter examines the impact of the FOS on the level of protection afforded to consumers under the CCA74. It reflects on the powers and performance of the Office of Fair Trading (OFT), with particular reference to the comparable elements of the Financial Services and Markets Act 2000 (FSMA) regime, enforced by the Financial Services Authority (FSA). The chapter considers the regulator-led mechanisms of redress available to the OFT to compensate consumers who have lost out at the hands of unscrupulous credit providers. It considers the approach of the FCA and consists of an analysis of the approach to the regulation of consumer credit market by the United States.

AB - This chapter analyses the Financial Conduct Authority's (FCA's) approach to regulating the market from a consumer protection perspective. It provides an analysis of the Consumer Credit Act 1974 (CCA74), in particular the elements that can be invoked by consumers to seek redress for harm caused to them by financial institutions. The chapter examines the impact of the FOS on the level of protection afforded to consumers under the CCA74. It reflects on the powers and performance of the Office of Fair Trading (OFT), with particular reference to the comparable elements of the Financial Services and Markets Act 2000 (FSMA) regime, enforced by the Financial Services Authority (FSA). The chapter considers the regulator-led mechanisms of redress available to the OFT to compensate consumers who have lost out at the hands of unscrupulous credit providers. It considers the approach of the FCA and consists of an analysis of the approach to the regulation of consumer credit market by the United States.

KW - Financial Conduct Authority (FCA)

KW - Consumer Credit Act 1974 (CCA74)

KW - Office of Fair Trading (OFT)

KW - Financial Services and Markets Act 2000 (FSMA)

KW - Consumer protection

U2 - 10.4324/9781315652009

DO - 10.4324/9781315652009

M3 - Chapter

SN - 978-1-138-11997-0

SN - 9780367030315

T3 - The Law of Financial Crime

SP - 129

EP - 177

BT - The Financial Crisis and White Collar Crime – Legislative and Policy Responses

A2 - Ryder, Nicholas

A2 - Turksen, Umut

A2 - Tucker, Jon

PB - Routledge, Taylor & Francis Group

ER -

Jasinski D. The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis. In Ryder N, Turksen U, Tucker J, editors, The Financial Crisis and White Collar Crime – Legislative and Policy Responses: A Critical Assessment. 1 ed. Routledge, Taylor & Francis Group. 2019. p. 129 - 177. (The Law of Financial Crime). doi: 10.4324/9781315652009

The FCA: protecting consumers of the consumer credit market in the wake of the financial crisis

Abstract

Publication series

UN SDGs

Keywords

Access to Document

Fingerprint

Cite this