On June 24, 2015, the PRA and the FCA launched a consultation on proposals to reform the Credit Unions Sourcebook in the Handbook. The PRA intends to replace the current Credit Unions Sourcebook that was inherited from the FSA with a new Credit Unions Rulebook in the PRA Rulebook which will focus on the safety and soundness of credit unions and will reflect the now broader range of financial services offered by credit unions. The FCA intends to replicate many of the provisions of the Credit Unions Sourcebook. The consultation closes on September 30, 2015.
The consultation paper is available at: http://www.bankofengland.co.uk/pra/Documents/publications/cp/2015/cp2215.pdf.
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