APACS, the UK payments association, today welcomed new protections for consumers as the Consumer Credit Bill received Royal Assent on behalf of its members. 

 Sandra Quinn said:
“APACS strongly welcomes the new Consumer Credit Act which received Royal Assent today (30/03/06).  The new Act delivers stronger consumer protections from unscrupulous lenders, better access to redress against unfair lending practices and a much needed overhaul of the regulatory environment.

“Gerry Sutcliffe and DTI are to be congratulated on the work they have done taking this Bill through parliament. APACS has been working closely with the DTI and parliamentarians throughout – this has helped to create what we think will be a more effective piece of legislation.

“This new Act is the biggest overhaul of consumer credit legislation for decades and introduces major changes to the licensing of consumer credit businesses and much needed powers to drive rogue lenders out of the market.“

ENDS

For further information please contact the APACS Plastic Card Information Office,

T: +44 (0) 870 420 3208, E: apacs@fourcommunications.com