Year in Review: 2024

Published 05 December 2024

Much of our activity is about helping our members understand the regulatory environment in which they operate, especially the regulators’ expectations. In 2024, we delivered that through the conference, summits, roundtables, and workshops we ran. This equated to fifteen events in total, sitting alongside twenty-two publications and updates.

Motor finance – November 2024

Published 24 November 2024

In this session, we updated on FOS complaint figures and the Court of Appeal decision. We considered how to engage with dealers, and the role of Appointed Representatives. We looked into the FCA lender survey and fines. Lastly, we talked about the Policy Statement on the extension of the pause issued by the FCA.

FCA engagement

Published 13 November 2024

The FCA’s oversight of regulated consumer credit firms is at an all-time high. The regulators ongoing scrutiny of regulated consumer credit firms stems their focus areas around conduct, Consumer Duty and vulnerable customers (to name a few). This event was suitable for Board-level Directors and Senior Managers.

Motor finance – Court of Appeal

Published 11 November 2024

The fallout from the Court of Appeal decision continues. Many major motor finance lenders and trade associations, including the CCTA, continue to liaise with the FCA, HM Treasury, the Financial Ombudsman Service (FOS) and legal firms.

Movement on access to credit

Published 08 November 2024

Access to credit has always been central to the work of the CCTA since it was founded over 130 years ago. We have a long-standing project to protect access to responsible credit for customers that often struggle to borrow elsewhere.

CMC Update (2024-3)

Published 31 October 2024

It has long been our view that there is a fundamental injustice that allows CMCs to access the Financial Ombudsman Service (FOS) while lenders must pay – win or lose.

Motor finance (2024-4)

Published 29 October 2024

Our last roundtable was held on 18 September 2024, and we are now reporting back on those discussions both for clarity and for members who were unable to attend due to other commitments.

CCTA Conference: 2024 brochure

Published 02 October 2024

A year on from our last conference, there continues to be a lot of activity focused on the consumer credit industry. And there has certainly been much change elsewhere, including a new Labour Government and an uncertain economic backdrop.

CCTA Conference: 2024 presentations

Published 02 October 2024

The 2024 Conference picked up on the growing focus of access to credit and financial inclusion with the FCA, Financial Inclusion Commission and Fair4all Finance all coming together to discuss the topic. Elsewhere embedding of the Consumer Duty and other aspects of the regulatory framework were discussed.

Motor finance – September 2024

Published 18 September 2024

Our expanded lineup of participants brought their expertise to the event. In addition to Naveed Asif (CCTA), Jo Davis (Auxillias) and Russell Kelsall (Walker Morris), we were also joined by Mike Deans (Borderway Finance) and Dan Simpson (Marsh Finance), who are motor finance lender/broker CCTA members.

Vulnerable customers

Published 12 September 2024

Firms must pay due regard to the understanding, identification and monitoring of vulnerable customers to ensure they receive the same outcomes as the wider customer base. This workshop provided the latest insights and practical guidance on assessing the fitness and propriety of  Vulnerable Customers frameworks.

FCA keeps a firm grip on the oversight of Appointed Representatives

Published 12 September 2024

Last week the FCA published the findings of its review of how principal firms are meeting its enhanced appointed representative rules, introduced in December 2022. As a reminder, an appointed representative (AR) is a firm that undertakes regulated activities and acts as an agent for a firm directly authorised by the FCA.