Credit Unions: The New Regulatory Regime and Amendment to Loan Interest Rate

Closes 14 Dec 2018

Opened 5 Nov 2018

Overview

The Isle of Man Financial Services Authority has today issued Consultation Paper CP18-06/T03 on the new regulatory regime for credit unions and amendment to the existing loan interest rate.

Why We Are Consulting

The purpose of this consultation is:

  • To obtain views about the proposed credit unions’ regulatory regime that will be enacted in secondary legislation made under the Financial Services Act 2008
  • To seek views on the proposed increase to the maximum interest rate payable by borrowers on loans made by credit unions under the Credit Unions Act 1993 (as amended in 2018)

Areas

  • All Areas

Audiences

  • Anyone from any background

Interests

  • Policies, strategies & plans