On 1st April 2014 regulation of the consumer credit moved over to the Financial Conduct Authority (FCA) taking over from the Office of Fair Trading (OFT) an that means that all existing OFT licences will expire and have to register with the FCA to continue to offer credit legally. This move will allow for stronger consumer protection and regulation and make things a lot more clear cut.
Does this apply to me?
If you currently provide consumer credit then this will apply to you, this includes offering credit cards and personal loans, selling goods or services on credit, offering goods for hire, or providing debt counselling or debt adjusting services to consumers.
If this applies to you then head over to the FCA website.