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MSE News: Dodgy credit firms face OFT crackdown

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"Unscrupulous credit firms can now have their licenses taken away immediately, under new OFT powers..."
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Dodgy credit firms face OFT crackdown

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Dodgy credit firms face OFT crackdown

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People like you are the reason why the powers are used sparingly rather than as often as they should be.
A positive licencing system has many benefits as you can put many controls on anyone who wants a licence - for example the OFT debt collection guidance. Trying to deal with every breach by prosecution wouldn't be feasible. Threatening to close a business by removing their licence is more feasiable.
How long are we going to keep on putting our (horse's) head in the sand?
FWIW JohnRo - No I am not a civil servant, nor ever have been. But it is interesting that you seem to make a sweeping dismissal of all public sector workers (I see the inference there) as unaccountable.
I have worked in both public and private sectors almost equally throughout my life. I found the private sector to be, by far, the more corrupt, discriminatory, nepotistic, tax-avoiding, tax evading, profiteering, penny-pinching, corner-cutting, safety compromising, polluting, and yes, least accountable.
We may call it the private sector, but ultimately it is all public money. Who do you think is actually paying for the obscene pensions and bonuses of the board of Sainsbury's, or Tesco or Sky, or GlaxoSmithKline or . . . (insert your 'favourite' company name here).
Now, explain how giving them even more powers is going to help make the situation any better.
To take control of that vast mob of thieving, cheating, scamming, corrupt, discriminatory, nepotistic, tax-avoiding, tax evading, profiteering, penny-pinching, corner-cutting, safety compromising, polluting, unaccountable bar-stewards that skin us all and hive it off to their tax havens.
Did I equivocate there?
I said equivocate and I meant it.