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Banks "Unfit to hold Consumer Credit Licence"


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I noticed the following on the LBA template:

Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act. If you do not understand what this means then seek advice from your legal department.

Can anyone tell me if they included this in their LBA and whether they believe it made a difference to the response?

And has anyone taken this action? Results?

I'm just at the point of LBA with RBS and this is a powerful threat - I'm interested to gauge reactions at this point.


:lol: Sweetrevenge :lol:

Don't get mad - get even!

If I've helped you please hit my scales 'n' bump my rep!


RBS (My A/c) S.A.R - (Subject Access Request) sent /10/06, statements rec'd 20/10; Prelim sent 3/11/06, s*d off letter rec'd 20/11; LBA sent 28/11, Settlement offer rec'd 18/12

WON at LBA with compound contractual interest £607


RBS BF Account S.A.R - (Subject Access Request) sent 4/11, part response rec'd 28/11, further info sent 3/12 awaiting statements at 20/12, Sent LBA 19/01/07. Received all statements resulting in 3 claims, £1,278, £4,279 and £7,250(!) all with contractual interest.



This is now very out of date!!!!

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Threats by individual consumers won't make any difference. The letter will never be read by anyone high enough in the bank's food chain to be able to do anything about it anyway.


The banks view themselves as a power unto themselves and do not believe that the rule of law has anything to do with them. By all means include such a paragraph and complain loudly. If enough people do so some supine bureaucrat might eventually get off their backside and do something about it but don't hold your breath.


In the meantime, please come along to our protest outside of the Office of Fair Trading on 1 December and make your voice heard.

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