Consultation Responses


As the principal trade association for credit unions in Britain and a key player in the development of inclusive financial services, ABCUL actively responds to many consultations and enquiries. Our responses to the following consultations are available to view below.

Latest Consultations

Greater Manchester Co-operative Commission – Call for Evidence

ABCUL have submitted a response to the Greater Manchester Co-operative Commission which has been established by elected mayor for the city region, Andy Burnham, with a view to cementing Greater Manchester's place as the UK's home of co-operation. We have sought to emphasise the opportunities that a proactive and supportive GM Combined Authority could have for the many credit unions operating in the city region and how this could be used as a model for other devolved administrations in England and elsewhere. Download 

Scottish Parliament Economy Committee - Debt Arrangement Scheme Regulations 2019

The Scottish Parliament’s Economy, Energy and Fair Work Committee is currently considering whether to approve the Debt Arrangement Scheme (Scotland) Amendment Regulations 2019, which seek to ease up some of the rules on access to, and the operation of, the Debt Arrangement Scheme. ABCUL is due to give evidence to the committee in September and, in advance of this, has submitted written evidence to the committee. Download 

HM Treasury - Social Investment Tax Relief: Call for evidence

ABCUL has responded to HM Treasury's call for evidence on the Social Investment Tax Relief. ABCUL makes the case for credit unions to be included in the scope of organisations that can benefit from the relief which has had low take-up since its inception. Download 

Payment Systems Regulator - Confirmation of Payee

ABCUL has responded to the Payment Systems Regulator on its proposed Direction for banks to proceed with Confirmation of Payee proposals. Confirmation of Payee is a system designed to reduce Authorised Push Payment fraud and mis-directed payments whereby from next year payee information will be checked for accuracy against a bank account directory before payments are initiated. Incorrect account information will therefore be flagged to help avoid misdirected payments. Download 

Welsh Assembly - Access to banking: Establishing a community bank for Wales

ABCUL has responded to a consultation from the Welsh Assembly which sought to explore the benefits and challenges around establishing a community bank with multiple branches in Wales. Download 

Scottish Government - Protected Trust Deed Review (April Review)

ABCUL has responded to the Scottish Government's consultation on Protected Trust Deeds, the most frequency used debt solution in Scotland. In our response, which was based on consultation with members, as well as our Call for Evidence on insolvency issues, and our workshop at the recent ABCUL conference. Download 

Breathing Space 2019

ABCUL has responded on behalf of members to a Treasury consultation on a new Breathing Space and statutory debt repayment scheme in England and Wales. Download 

Accountant in Bankruptcy (Scotland): Debt Arrangement Scheme Consultation

ABCUL recently consulted members on planned changes to the Debt Arrangement Scheme in Scotland Download 

FCA - Rent to own & Alternatives to high cost credit

ABCUL has responded to the Financial Conduct Authority’s consultation on remedying the market failures of the rent to own sector which includes firms such as BrightHouse. ABCUL supported all of the proposals put forward to further regulate and limit the sector whilst also providing feedback on a number of initiatives that the FCA is considering to support low-cost alternatives such as credit unions. Download 

FCA - Regulated fees and Levies: Policy Proposals for 2019-20 high cost credit

ABCUL has published its response to the Financial Conduct Authority's annual consultation on its fees policy for the year ahead. ABCUL strongly supported proposals to exempt credit unions from consumer credit fees and remove the costs of accessing information on the Mutual Societies Register except where a visit to an FCA office is requested. Download 

Isle of Man – New Regulatory Regime and Amendment to Loan Interest Rate

ABCUL has published a short response submitted last year to the Isle of Man Financial Services Authority. ABCUL commented on proposals to change the Isle of Man credit union regulatory regime and adjust the statutory loan interest rate cap. Download 

Bank of England & Prudential Regulation Authority - Approach to EUWA reforms

ABCUL has responded to two parallel consultations on the repercussions of leaving the European Union on financial services legislation class Download