CCTA Academy
Online learning & development platform launched

Published 27 November 2023

Some of you will recall that, almost a year ago, we carried out a member survey to see how we could further improve our services as your trade association. Over 80% of respondents wanted the CCTA to enhance our learning and development offering. That has led to the launch of the CCTA Academy.

Changing tides?
Cost of living and borrowers in financial difficulty

Published 27 November 2023

Undoubtedly, the Financial Conduct Authority (FCA) is taking the cost of living very seriously. To a certain extent, this is a continuation of a project that emerged from the COVID-19 pandemic. While there has been some good news around the fall in inflation and wage growth, a group of families will find themselves in a difficult position.

All hands on deck
Working with the Financial Ombudsman Service

Published 27 November 2023

At the Financial Ombudsman Service, we’ve been working hard to deliver faster results for complainants and firms without compromising on the quality of our decisions. We are building the service that our customers need and rightly expect, with the flexibility and capacity to deal with the changing landscape in financial services and beyond.

The final countdown
What do the next twelve months have in store for UK politics?

Published 27 November 2023

Everyone knows the saying “a week is a long time in politics” so a year could be considered an eternity. However, I did want to talk about the next twelve months as we head towards the general election and a possible change in government.

Combating economic crime
Giving fraud prevention the credit it deserves

Published 27 November 2023

The need to tackle fraud remains critical. As UK Finance reports that consumers have lost over half a billion pounds to fraud in the first half of 2023, it has never been more important to stop criminals in their tracks – at the earliest opportunity.

Who guards the guardians?
Tackling scammers impersonating the regulator

Published 27 November 2023

The Financial conduct Authority (FCA) has a pivotal role when it comes to the granting of consumer credit to individuals. Principally it is an organisation which regulates lenders, their agreements and everything to do with credit. Its tentacles are spread far and wide.

Understanding CP23/21
FCA Consultation Paper: Consumer Credit – Product Sales Data Reporting

Published 27 November 2023

In September 2023, the Financial Conduct Authority (FCA) published a consultation paper (“CP23/21”) entitled, “Consumer Credit – Product Sales Data Reporting”. WHAT? Under this consultation, the FCA “seeks views on our proposal to introduce three new Product Sales Data (PSD) returns into Chapter 16 of the Supervision manual (SUP 16).

FCA calls on insurers to take action
Fair value data published

Published 27 November 2023

Motor insurers selling GAP policies will find the recent FCA study and publication particularly significant. In a letter to insurers, the FCA warned, more action was needed to guarantee positive consumer outcomes, especially considering new Consumer Duty.

Motor finance lenders under the spotlight?
Key developments in the sector

Published 27 November 2023

Motor finance lenders could be forgiven for feeling under the spotlight from the Financial Ombudsman Service, Claims Management Companies, claimant law firms and the Court. James Dipple-Johnstone, Deputy Chief Ombudsman, said at a conference that they had 9,000 motor commission complaints.

The collection payment journey
Improving collection rate efficiency

Published 27 November 2023

When exploring how to maintain collection rate efficiency, businesses can be overwhelmed with challenges. For many, limited payment options, shifting consumer behaviour, and the economic impact on payment habits are prominent stumbling blocks. Let’s explore these difficulties and how Payment Solutions Providers (PSPs) can support businesses in improving collection rates and streamlining the payment journey.

Embracing Consumer Duty and automation
A win-win for financial institutions

Published 27 November 2023

Automation has become an integral part of nearly every facet of our lives. One area where automation is making significant strides is in the realm of the Consumer Duty. Automating these responsibilities not only enhances the customer experience but also brings a multitude of benefits to businesses.

Artificial Intelligence
How AI can help your dealership make more sales

Published 27 November 2023

Artificial intelligence (AI) is set to shake up the car buying process. With AI at your side, get ready to increase sales and improve operational efficiencies across your business.