Topic 22 Flashcards
1
Q
What does the consumer credit act 2006 cover
A
The regulation of certain loans to individuals, small partnerships and unincorporated bodies
2
Q
What does the APR represent
A
Measure of total cost of borrowing and its aim to allow a fair comparison between different lenders of the overall cost of borrowing
3
Q
What is representative APR
A
Applies to 51% or more of successful applicants for credit product
4
Q
Who must consumer credit be authorised by
A
FCA
