CCTA comment on CSJ report on tackling illegal money lending

Published 21 March 2022

We welcome this new report and this study into the scale of illegal money lending. Even before the current cost of living crisis, we have talked about the increasing problem of loan sharks and the real pain they cause to families across the UK. It is now estimated that over one million people are relying on illegal lenders.

Activity update: Home-collected credit

Published 15 March 2022

Towards the end of 2021, we pushed for the FCA to take a strategic look at what was happening in high-cost credit, with home-collected being the focus of much of the discussions.

CCTA Magazine: 2022 Issue One

Published 10 February 2022

Welcome to the first edition of CCTA Magazine for 2022. We certainly plan on doing more to bring our network of members together. One of the major ways in which we hope to achieve this is with the return of an annual conference.

Winter 2022

Published 09 February 2022

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.

CCTA response to BNPL Consultation

Published 19 January 2022

HM Treasury’s consultation on Buy-Now Pay-Later (BNPL) products has recently closed. Here we share the main points from our response. These are key principles we believe HM Treasury needs to consider when shaping the future regulation of consumer credit.

CCTA response to the FOS plans and budget 2022/23

Published 15 December 2021

For some time, we have been talking about the financial pressure our members are under from the current fee structure of the FOS. We are disappointed by today’s announcement which includes a large rise in the compulsory jurisdiction levy paid by firms.

CCTA Inform: Winter 2021

Published 07 December 2021

CCTA Inform is an essential ‘easy read’ publication, exclusively available to members. This issue covers September 2021 to November 2021. During this period, we have collected details of legislation, regulatory updates and other announcements that may be of interest.

What will the FCA’s ‘Consumer Duty’ mean for access to credit

Published 24 November 2021

I spoke last week at an event exploring the FCA’s proposed ‘Consumer Duty’. The Duty is positioned as asking firms to put themselves in the shoes of the customer and consider if they would like to be treated how their firm treats customers.

Time to talk money

Published 10 November 2021

This week is Talk Money Week run by the Money and Pensions Service (MaPS). Set up by government, MaPS exists to ensure every person feels more in control of their finances throughout their lives. Talk Money Week is a campaign designed to increase people’s sense of financial wellbeing by encouraging them to open up about personal finance.

Affordability complaints

Published 01 November 2021

We were delighted to have Huntswood help us with our workshop that looked at affordability complaints. Huntswood talked about how the FOS have developed its understanding of the principles and how this translates into decisions. Lenders were able to take away ideas as to how they could improve their complaint handling.

Is the cost of living on the increase?

Published 25 October 2021

We are being told that there is a rise in the ‘cost of living’ but what does this mean? Simply that the necessary costs we all face are going up, but what is driving this rise now? September saw a slight drop in inflation, but economists predict this is likely to only be a temporary dip before the rate continues

CCTA comment on HM Treasury consultation on BNPL regulation

Published 21 October 2021

CCTA commenting on HM Treasury consultation on the regulation of BNPL said: “The consultation on BNPL is welcome, but it highlights that the current regulation of consumer credit is complex and unwieldy. These products should already be regulated by the FCA, but the system takes too long to change.