Consumer Credit Policy Templates

If you are looking for consumer credit policy templates, you have come to the right place! Know Your Compliance Limited are the UK’s leading provider of FCA policy templates and compliance manuals. With more than 11,000 firms already using our documents, you can be assured of high-quality, professional and compliant policies, procedures and controls to suit any regulated business type.

What is Consumer Credit?

Consumer credit is when an individual pays for a product or service over a set period of time in the form of a loan instead of paying in full upfront. Most consumer credit firms are regulated and so need to be authorised by the Financial Conduct Authority (FCA).  In addition to mainstream lenders such as personal loans, retail finance and credit cards, consumer credit also includes sectors such as debt collectors who’s activities are regulated under the consumer credit laws.

The FCA Consumer Credit Sourcebook (CONC)

The Consumer Credit Sourcebook (CONC) is a supplementary FCA handbook which sets out the requirements and guidance for firms who carry out credit-related regulated activities. This sourcebook and its contents are to be read and followed in addition to the main FCA Handbook.

The obligations set out in CONC build on and add to the high-level obligations (i.e. PRIN, COND and SYSC) and the requirements in the Consumer Credit Act (“CCA”). CONC includes rules and regulations for consumer credit firms in areas such as: –