Govt eyes Money Advice Service to control debt firms

Ministers are also looking at whether existing provisions in the Financial Services Act 2010 allowing the Office of Fair Trading to apply a levy on consumer credit licensees and applicants to contribute to funding the Money Advice Service should be used, Hoban said. "Government are currently considering how the funding and provision of publicly supported debt advice can be put on a sustainable footing, for the future," he said in reponse to a written Parliamentary question. "These considerations include the possibility of the Money Advice Service taking on responsibility for the co-or...