The FCA discussed their approach to the emerging use of AI, as well as considerations for firms. Shannon Faulkner, Consultant at Auxillias, covered how firms should approach the adoption of AI, including practical considerations and integration. CCTA provided an update on the regulatory horizon and the association’s work in key areas.

We discussed changes in motor finance as well as the newly released consultation from the FCA and FOS on modernising the redress scheme. We were also be joined by Peter Tutton, Head of Policy at StepChange Debt Charity. Lastly, we looked further down the track to discuss what else we expect to see in 2025.

Duncan McLellan, Senior Fraud Intelligence Analyst at CIFAS, discussed the current threat landscape and key challenges facing firms trying to tackle fraud. Our Consumer Duty panel considered the deadline for closed products and the annual board report. CCTA provided an update on activity and discussed the election results.

The agenda included the FCA’s Consumer Duty and the regulator’s investigation into discretionary commission arrangements in motor finance. TransUnion shared recent market insights and trends. CCTA provided an update on CMC charging and reform of the Consumer Credit Act. Addleshaw Goddard and Lantern were panel speakers.

Chris Fitch, Vulnerability Lead at the Money Advice Trust gave a presentation. He has spoken at previous CCTA conferences about the development of the principles of vulnerability. As members have become increasingly aware of the importance of vulnerability, we asked Chris to update us on the latest thinking in this area.

Peter Tutton from StepChange came along to speak at our 2023 Summer Summit. StepChange needed no introduction and is both an important partner for many lenders as well as an influential voice when it comes to credit and debt. With the deadline fast approaching, we also held another session on Consumer Duty.

Our Consumer Duty panel session included our Head of Policy and Advice, Naveed Asif, Matthew Drage of Square 4 and Mark Fiander, CEO of Gain Credit. Niall Alexander of Fair4All Finance discussed his research into illegal lending in the UK. We also reported on issues that the CCTA was talking to the FCA, Treasury and FOS about.

TransUnion provided a snapshot of what was happening in the wider economy and how it was impacting on consumer credit. We also invited Helen Lord of the Vulnerability Registration Scheme to join us. A CCTA Update was provided by our CEO, Council chair and Head of Policy and Advice.

The FCA gave a presentation on financial promtions. There was also an update from the CCTA team. Gain Credit, Addleshaw Goddard and Coeo also participated in a ‘Implementingn the Consumer Duty’ panel. To mark the last all-member event of the year, we also invited members to stay on for a celebratory drink.

TransUnion presented on the emerging trends identifed from the perspective of a CRA. The FCA provided an outline of the team’s work and how best to engage with them. They also updated on how they approach the regulation of CMCs. There was also a chance to discuss other developments on CMCs and an update from CCTA.

Jeanette Burgess, Partner and Head of Regulatory and Compliance at Walker Morris, provided a view of what the year ahead will bring from a regulatory perspective. This included current FCA initiatives and other key issues for the alternative lending sector. The CCTA team also provided an update on campaigning activity and wider work.

Our panellists looked to the future and brought together expertise on a range of issues and market areas. This allowed for an interesting discussion as we looked at the future of alternative lending. To mark the return to physical events, attendees were also invited to stay on for a celebratory drink.

We asked TransUnion to provide us with their perspective on the impact on the pandemic and finances. Themis Consultancy provided thoughts on Tailored Support Guidance. Morses Club and Gain Credit joined our panel session to discuss engaging with the FCA on conduct and leadership in a principles-based system.

Gareth McNab, Director of External Affairs at Christians Against Poverty, gave a presentation on the Breathing Space scheme. Members asked questions on how the scheme should operate. Our Chief Executive also provided an update on the CCTA’s plans and areas of focus for 2021, along with an introduction to the wider team.