Is FSA regulation on the horizon
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The subject of secured loan regulation has been lingering around in the industry for a couple of years without any action actually having been taken.
The Association of Finance Brokers White Paper into the market has been the clearest sign yet that something may be about to change.
The association is believed to be pondering the results of the paper and will make its conclusions soon as to whether it should start to lobby the government for any change.
If the AFB does decide to start to lobby it is also going to need the support of the other associations such as the Finance and Leasing Association, which if rumours are to believed it does not have at the moment.
So would it be right to push ahead and start to lobby for the regulation of secured loans without the support of the other organisations or should the other associations start to back brokers and the AFB, if indeed they have voted in favour of FSA regulation.
The only option may be for the AFB to thrash it out with the politicians and the Treasury and let them decide in the ultimate outcome.
Getting all of the associations to agree that they want to see the market FSA regulated is just the first hurdle in the process.
Source:
Loan Distributor
