Edward Pascal Palmieri was refused a consumer credit licence on the grounds he had convictions for breaching the Trade Descriptions Act and Consumer Protection Act by giving false and misleading statements to consumers on pricing, and failing to declare these convictions on his application. He also claimed that he had never been involved with businesses who had previously applied for consumer credit licences when in fact this was not the case.
An adjudicator decided that the applicant was not fit to hold a consumer credit licence and accordingly the application was refused.
Rita Monti, deputy director of enforcement and consumer credit licensing, says: “These convictions and the failure to disclose full particulars when applying for a licence show that this applicant is unfit to provide credit to consumers, so his application has been refused.”
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