Spring 2024

Published 25 March 2024

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.

Board reports

Published 06 March 2024

This workshop looked at how firms can work towards building their annual board reports, the first of which was required by 31 July 2024. We provided insights into the type of data firms should be using to populate their board report and explained the level of data that should be included.

Home-collected credit update (2024-1)

Published 04 March 2024

The news that the Competition and Markets Authority (CMA) is looking at the future of the home credit comparison website – www.lenderscompared.org.uk – prompted me to write out to our members in home-collected. I wanted to mention the CMA proposals on changes to their Order, driven by massive changes in the home credit market.

Motor finance – February 2024

Published 15 February 2024

The agenda covered an update of FOS motor finance/commission complaints. We also looked at relevant legal cases and two FOS interim decisions on test cases. We provided feedback on CMC activity and discussed the FCA temporary changes to complaint handling timeframes in motor finance.

Commissions in motor finance

Published 08 February 2024

In the FCA’s findings, published in March 2019, the regulator found that discretionary commission arrangements (DCAs) meant consumers were paying approximately £300million a year in higher interest rates, generating £165million a year towards commissions for brokers. This was evidence of consumer harm, leading to a consultation with industry on addressing the harm identified by the regulator. The consultation, published in October 2019, proposed to ban discretionary commission models that unnecessarily increased motor finance costs for consumers.

Claims Management Companies

Published 25 January 2024

This roundtable allowed members to share experiences of complaints involving CMCs. For many firms, CMCs have become part of everyday business. Some have targeted lenders in one sector and then moved on to others. As such, we regularly provide updates and recommend that firms talk to the FCA about poor experiences.

CMC Update (2024-1)

Published 08 January 2024

As is our established process, we regularly update our members on developments around Claims Management Companies (CMCs). In this first update of 2024, we would like to cover some developments from the end of 2023.

Motor finance (2024-1)

Published 04 January 2024

It was good to have our last motor finance roundtable of 2023 in early November. As has been the process, we report on the discussions a few weeks after the event and address the agenda items covered in a formal report. If there has been a significant update from the time of the roundtable, then we have also included details of this.

CCTA Inform: Winter 2023

Published 18 December 2023

CCTA Inform is an essential ‘easy read’ publication, exclusively available to members. This issue covers August 2023 to November 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.

Winter 2023 Summit – Q&A

Published 18 December 2023

Thanks to everyone who attended our recent Winter Summit. We said we would provide a download link for the presentations at the CCTA Summit. The Summit featured presentations from industry experts, including Jeanette Burgess of Walker Morris, the FCA’s Cost of Living Team, and Chris Fitch of Bristol University. This briefing answers the questions that we didn’t have time to answer during the session.

Winter 2023

Published 12 December 2023

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.

Year in Review: 2023

Published 07 December 2023

As we head toward the end of 2023, it is time to reflect on the year and publish our Year in Review. This is our opportunity to bring together all the elements of CCTA work and explain how we speak on behalf of members, share the insights from discussions and build a strong network. In recent years, finding the CCTA drawn toward one sector and one major problem has not been unusual. This year is different in that we have seen the emergence of issues across the membership.