Essex credit broker has licence revoked

A credit broker from Brentwood has had his consumer credit licence revoked by the OFT.

Stephen John White, trading also as Light House Financial Consultants, had his licence revoked on the basis that he was convicted of attempting to obtain money by deception in February 2004.

As a result the adjudicator decided that White was unfit to provide credit to consumers and revoked his licence.

In considering fitness, the OFT takes into account a number of factors carried on by the business or anyone involved in running the business including, any offence or conviction of violence or dishonesty, failure to comply with the provisions of the Consumer Credit Act or other consumer protection legislation.

As well as consumer complaints, and evidence of unfair business practice, and evidence of discrimination on grounds of sex, colour, race or ethnic/national origin.

Christine Wade, director of Consumer Regulation Enforcement, says: “We will not hesitate to revoke a trader’s licence where we find they have convictions thatmake them unfit to provide credit to consumers.”