What consumer lending regulation exists in the Channel Islands?

In Guernsey, The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 came into force on 1 July 2023. From this date, persons carrying on the activities covered by the Law must hold an appropriate licence. The main purpose of the Law is to protect customers who make use of consumer credit and home finance.

Lending to consumers is not currently directly regulated in Jersey. Close Finance is however, a subscriber in Jersey to the Code of Practice for Consumer Lending – sponsored by the Jersey Consumer Council and the Code of Conduct for Jersey Debt Collection. Copies of the Codes can be accessed via the following links:

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