What we do: Consumer credit solicitors
Our consumer credit lawyers are able to provide you with expert advice on all matters affecting consumer credit, making sure that your business is compliant and up-to-speed in all areas. We can assist you with your requirements, whether you are looking for discrete advice on compliance with specific regulations, drafting credit agreements or even buying or selling a regulated consumer credit business. Some of the typical areas we would help your business with include:
- Consumer Credit Act (CCA)
- FCA consumer credit regime including the Consumer Credit sourcebook and other relevant FCA Handbook rules and guidance
- Anti-Money Laundering (AML) legislation
- Data protection legislation including the GDPR and DPA
- Consumer Credit Association (CCA)
- Client Assets Sourcebook (CASS) – advice on compliance and rule breaches
- Regulated Activities Order (RAO) – perimeter and regulated activity guidance
- Financial Ombudsman Service (FOS) – including guidance on how to handle customer complaints
We’re also able to assist with the following:
- Applying for authorisation or variation of permissions
- Approved person applications
- Advice on Senior Managers and Certification Regime, fit and proper issues, such as conduct and disciplinary matters
- Supervision notification and reporting obligations
- Reviewing and advising on consumer credit adverts
- Reviewing and drafting consumer credit agreements and related documents
Consumer credit is regulated by the FCA who take a proactive approach in identifying firms that carry out consumer credit activities without authorisation. Many firms that provide goods or services to consumers and small businesses may also be carrying out consumer credit activities if they extend credit to their customers. It is vital that you know whether or not you are providing consumer credit and ensure you are appropriately authorised and comply with consumer credit regulations.
If you are looking to buy or sell a consumer credit business, our finance solicitors will also work closely with our corporate and commercial teams to cover all aspects of your deal, so the legal work is seamless whatever the transaction.
What our clients say
We pride ourselves on delivering an excellent service for clients, but don’t just take our word for it.
Our on-demand relationship with Harper James allows our in-house counsel instant access to specialist support. We relied on their valued guidance to get us through the acquisition process with accuracy and confidence.
Alison Conway, Senior Advisor
Experience of your team and how they make it simple to understand the options and what is required. Value for money.
Paul Smith, COO
Speed of turnaround and clear advice
Ian Rose, Head of Networks
AllStar Business Solutions
Who we work with
Our consumer credit lawyers regularly advise many different businesses and organisations, such as:
- Consumer credit firms such as non-bank credit card and loan companies
- Fintech firms: both regulated and unregulated
- Retailers selling goods and service on credit
- Companies providing services to any of the above
We’ll explain how consumer credit regulation may affect you and your business, of if you’re new to financial services, we can discuss how you need to become regulated and the steps to maintain that regulation.
Examples of our work
Rising to the challenge: Redwood Bank quickly reaches profitability
16 December 2021
Redwood Bank are celebrating their speedy ascension to profitability, achieving this important milestone in less than four years. This marks Redwood Bank as one of …
The end of cash? Contactless limit to rise to £100
12 July 2021
Covid-19 has transformed the way we pay for goods and services, with businesses increasingly banning cash to help reduce transmission of the virus. But as …
Why Bitcoin and cryptocurrencies are here to stay
2 June 2021
Everyone has something to say about Bitcoin right now. Recent reports suggested that the price of Bitcoin hit a new low in the wake of …
Assisting Reposit to transform tenancy deposits for good
17 September 2020
Reposit is on a mission to make renting more affordable and accessible for the 4.5 million UK households who rent their homes. Originally founded by …
Why choose Harper James? Our consumer credit solicitors’ experience
Our consumer credit solicitors have all been recruited from top 100 UK law firms or from large international businesses. Find out more about them here:
Our three transparent pricing packages are designed to give you the widest possible access to high-quality legal advice, whatever the size and nature of your business:
Straightforward access to senior solicitors at a competitive rate.
An affordable solution for businesses needing one-off legal support. Receive ‘City’ partner-level expertise at a fraction of ‘City’ prices.
Have legal peace of mind for £189 per month with additional support from £125 per hour.
A monthly subscription legal support package specifically designed for start-ups and smaller businesses.
Providing you with priority access to a dedicated panel of highly experienced solicitors.
Fully account managed quarterly subscription service for businesses with more complex legal needs.