Wire · regulatory
The future of consumer credit regulation: A work in progress
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Fusion42 · 10 October 2026 · Fusion42 review
The UK Government is reforming the Consumer Credit Act 1974 by shifting consumer credit regulation powers from primary legislation to the Financial Conduct Authority (FCA) under the 2026 Financial Services and Markets Bill. Key amendments focus on enhancing parliamentary oversight of the FCA's new powers and preserving consumer protections, especially statutory sanctions like unenforceability, despite the Government's view that some existing sanctions are disproportionate.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
The shift of consumer credit oversight to the FCA means you must engage with new regulatory processes to maintain compliance and influence policy. Your product and legal teams need to prepare for FCA-led rulemaking that could tighten consumer protection and impact credit enforcement.
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1 source · 8 Oct 2026
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