The Consumer Credit Act 2006 in a Global Context- Comparative Analysis and Insights

Summary:

The introduction provides a global context for consumer credit regulation, highlighting the implications of the UK's Consumer Credit Act 2006 (CCA 2006) on a larger scale. The document compares the UK's approach to regulation with those of the United States and the European Union, focusing on the strengths and weaknesses of each system. Key points mentioned include the need for the CCA 2006 to be updated to incorporate modern technologies and consideration of harmonization with international standards, particularly those of the EU, to facilitate cross-border financial activities.