FCA consumer credit compliance, explained in plain English.
Credit broking, lending, debt adjusting and other consumer credit activities come with their own rulebook — CONC, the FCA's Consumer Credit sourcebook. We help small firms and sole traders get authorised correctly and stay compliant, without the jargon.
If any of this is your business, it's probably a regulated activity.
Consumer credit is one of the largest areas of FCA regulation, covering around 38,000 authorised firms. It's also one of the easiest places to accidentally fall foul of the rules, because so many businesses carry out a regulated activity without realising it — introducing customers to a lender, arranging finance, or collecting debt all count.
- Credit broking — introducing or arranging credit for customers
- Consumer lending — providing credit directly
- Debt adjusting and debt counselling
- Credit information services and debt collecting
Authorisation, then staying on the right side of CONC.
Our FCA Launch Pad service gets you through the consumer credit authorisation process — working out whether you need full or limited permission, preparing your application, and handling the FCA's follow-up questions. Once you're authorised, FCA Guard keeps you compliant with CONC's ongoing requirements as your business and the rules both evolve.
If you'd rather handle some of the paperwork yourself, our document toolkit includes ready-to-use AML, customer due diligence and complaints-handling templates built around what the FCA actually wants to see from a consumer credit firm.
Common questions about consumer credit compliance
Do I need FCA authorisation for credit broking?
Yes — if your business introduces customers to lenders or arranges credit for them, that's credit broking, and it's a regulated activity. This applies even if credit isn't your main business, such as a retailer offering finance at the point of sale. You'll need FCA authorisation or need to operate as an appointed representative of an already-authorised firm before you carry out this activity.
What is CONC?
CONC is the FCA's Consumer Credit sourcebook — the specific rulebook that sets out detailed requirements for consumer credit firms, covering things like financial promotions, affordability and creditworthiness assessments, arrears and default, and how customers in financial difficulty must be treated.
How long does FCA consumer credit authorisation take?
It varies with the complexity of your application and how complete it is from the start, but consumer credit authorisation commonly takes several months. Incomplete or poorly prepared applications are the single biggest cause of delay, which is exactly where getting it right first time pays off.
What's the difference between full and limited permission?
Limited permission is a lighter-touch tier for firms where credit activity is secondary to their main business — for example a retailer that occasionally introduces customers to finance. Full permission applies to firms where consumer credit is a primary part of the business, such as a standalone lender or broker, and comes with a wider set of ongoing obligations.
What happens if I operate without FCA consumer credit authorisation?
Carrying out a regulated consumer credit activity without the right FCA permissions is a criminal offence and any related agreements may be unenforceable without a court order. The FCA can also take enforcement action, including fines and public censure. It's a real risk, not just a paperwork formality.
Not sure if your business needs consumer credit permissions?
A quick, no-obligation conversation will usually clear it up.