Introduction
The Secured Loans market is often referred to as ‘Unregulated’, but what does this mean? This article will attempt to answer this question by looking at the both official and non-official governing bodies that have an affect Secured Loans. It will also briefly discuss the various Parliamentary Acts that incorporate legislation affecting the Secured Loans or Second Charges market. The target readership for the article is either those involved in the Finance Industry, specifically secured loans, or members of the public with a general interest in Consumer Credit legislation which may affect them.
The Office of Fair Trading (OFT)
The Office of Fair Trading, or O.F.T as it is more commonly referred to, is responsible for a number of key areas with the ultimate aim of protecting the consumer. It has three main purposes. These are the enforcement of Competition and Consumer Protection rules, the analysis of markets to make sure they are working and communication to consumers, businesses and the government.
In terms of Secured Loans there are a number of areas the O.F.T deals with that affect the way that...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
