Summer 2023

Published 27 June 2023

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.

Spring 2023 Summit – readout

Published 01 June 2023

In this guidance paper, we are covering the discussion on Consumer Duty which was held during our panel session at our Spring Summit in London. The paper also contains information about two key updates from the FCA following our Summit: a speech by FCA’s Sheldon Mills on the countdown to Consumer Duty implementation and the FCA’s review of firms’ fair value assessments.

Motor finance – May 2023

Published 25 May 2023

This was part of our development of a motor finance group within the CCTA as we picked up on some emerging matters. In our discussion with regulators, we have talked about a range of topics, from the issue of commissions and use of immobilisers through to affordability and the impact of Consumer Duty.

Spring 2023

Published 26 April 2023

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.

Minister talks about access to credit

Published 20 April 2023

We are always interested in hearing from Andrew Griffith, Economic Secretary to the Treasury. He is also referred to as the city minister because financial services fall within his area of responsibility. So when he spoke at the Mansion House about Financial Literacy and Inclusion, it was good to hear him talking about the importance of access to credit.

Increasing regulatory burden leads to a drop in regulated supply

Published 13 April 2023

We are currently reviewing the FCA Strategy to determine its implications for our members. That is being considered alongside the FCA’s proposed regulatory fees and levies. Too often regulators set rules that work well for the big banks and mega insurance companies. The FCA often fails to recognise the important part played by smaller firms and that increasing regulatory burden needs to be considered.

Information exchange templates

Published 06 April 2023

As firms work through the implementation of the Consumer Duty requirements, one key deadline which our members will be aware of is the exchange of information deadline between manufacturers and distributors. Firms will need to have exchanged relevant information with the distribution chain by 30 April 2023. There are requirements for both manufacturers and distributors in respect of this deadline.

CCTA Inform: Spring 2023

Published 05 April 2023

CCTA Inform is an essential ‘easy read’ publication, exclusively available to members. This issue covers December 2022 to March 2023. During this period, we have collected details of legislation, regulatory updates and other announcements that may be of interest. Members should also ensure they are subscribed to our weekly CCTA Update email to be kept up to date with the latest industry news.

Pawnbroking update

Published 30 March 2023

Pawnbroking has a long history, with a reasonable claim to being one of the oldest lending products. It continues to be well-liked by its customers and is positively viewed by its regulator. The CCTA is keen to represent and support members that provide pawnbroking loans as part of the wider alternative lending landscape. We can do this by sharing insights and identifying areas of common interest, seeking to work proactively and being prepared to respond strongly.

CCTA Magazine: 2023 Issue One

Published 03 March 2023

Welcome to our first magazine of 2023. With so many issues swirling around from the cost of living to a barrage of regulatory change, it has not been difficult at all. In fact, this has turned out to be a bumper edition. You will find a range of features and articles that cover many of the issues faced by lenders across the various sectors of consumer credit.

Winter 2023

Published 01 March 2023

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.

Roundtable on Consumer Duty implementation

Published 28 February 2023

This note is a readout from a meeting we recently attended with the FCA. This will interest CCTA members who are involved in Consumer Duty implementation.