Fair4All Finance responds to PRA on credit union regulation 

We responded to the Prudential Regulation Authority’s (PRA) recent consultation on changes to the credit union regulatory regime

Overall our response is supportive of the proposals as a way to increase the resilience of the credit union sector.  

The proposed changes include placing higher expectations on larger credit unions and those making use of new or more complex products. They will also extend the range of products credit unions can invest in, which we believe will support growth. 

We have provided feedback on the PRA’s expectations around capital requirements, which we believe should be more supportive of the role of external investment in driving the sustainable growth of credit unions. 

Attention: We have been informed of fraudulent activity where people are offering unsecured loans using our name.

Please be careful as we do not provide loans or contact customers for this purpose. If you've been approached, please report to Action Fraud immediately via their website or on 0300 123 2040.