Author: Dennis Chapman
Published: September 17, 2012
Reading time: 1 minute
This article is 9 years old.
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The Office of Fair Trading is to be given powers to shut down finance of businesses with a Consumer Credit Licence with immediate effect, where needed to protect consumer interest.
At the moment the Office of Fair Trading can be ‘minded to revoke’ a Consumer Credit Licence but the business can continue to operate for sometimes up to two years whilst an appeal process takes place.