CCTA View

Reform of the financial redress system is long overdue. It is something that the CCTA has campaigned for over the years. We are pleased to see progress and plans for further changes. Some of which we will be discussing next week at the CCTA Conference. However, if change is to last, it must be sustainable for all types of firms. …

Since 2016, our website has helped members find answers, register for events, and stay informed. But we knew we could do better. So we have rebuilt it, from the ground up, to give you improved access, better navigation, and personalised tools that make your membership work harder for you. We recognise that the website is a crucial part of the …

From a regulatory perspective, it is set to be another big year within the world of alternative credit. At our Summit, I talked about the key changes we were expecting in 2025. Here, I update on progress and provide details of new regulatory developments that will affect members.

Look at any Financial Conduct Authority (FCA) review in consumer credit and one message stands out: learning and development are critical. They not only ensure staff have the technical skills needed to deliver good outcomes but also help shape a firm’s culture.

As the Mansion House speech nears, we’ll be listening closely for signs of regulatory reform. Rumours are circulating, some undoubtedly floated to gauge reactions. We were interested in learning about reports of further progress on reforming the Financial Ombudsman Service (FOS).

At the end of March we held our Vigilance Conference in central London. Delegates attended from across the CCTA membership including lenders of various sizes, brokers and associates. Addleshaw Goddard kindly hosted the event at their London offices.

On 7 March, the FCA published their findings into a review of firms’ treatment of customers in vulnerable circumstances, including their consumer research and examples of good and poor practices. It is clear that vulnerable customers remain a top priority for the regulator, and rightly so. They should be a priority for firms too.

I’m delighted to introduce myself as the new Membership Manager at the Consumer Credit Trade Association (CCTA). It’s an exciting time to join the organisation, and I’m eager to connect with all of you – our valued members – to ensure that you receive the best possible support, insights, and services that CCTA has to offer.

Over the past year, I’ve represented the Consumer Credit Trade Association on the Industry Working Group (IWG) tasked with developing proposals for a new Credit Reporting Governance Body (CRGB). It is an important and potentially far-reaching piece of work that could change the way credit data is overseen in the UK—and it’s vital that smaller and specialist lenders are not …

Earlier in the spring, the FCA launched its new five-year strategy that will run until 2030. The aim is to deepen trust, rebalance risk, support growth and improve lives. The regulator has outlined four main themes for its future areas of work as part of the strategy which can be seen below: Be a smarter regulator – predictable, purposeful and proportionate. …

Yesterday, the Chancellor met top regulator bosses in Downing Street to discuss an action plan on regulation. The review aims to cut the administrative cost of regulation, make Britain the best place to do business and drive economic growth. We applaud the ambition and the speed at which the Government has been moving. Action plan on regulation The plan aims …