An uphill climb
Advocating for access to responsible credit

Published 08 April 2025

The history of the CCTA Access to credit has always been central to the work of the CCTA since it was founded over 130 years ago. Our role has always been to provide credit for individuals that struggle to access elsewhere. One of our first members was the White Sewing Machine company.

Adding fuel to the fire
The sharp rise in company debt judgments

Published 08 April 2025

Registry Trust has just published the latest data on the number of judgments registered against consumers and businesses in the UK. What stands out is the sharp rise in judgments taken out against incorporated businesses, typically limited companies, in England and Wales in Q3 2024 and throughout 2024.

Time for reflection
A summary of developments in the industry

Published 08 April 2025

As we come to the close of the year and our final 2024 issue of CCTA Magazine, this is an ideal opportunity to reflect on the developments from the past year. Consumer Duty Any review of the year has to include the Consumer Duty. Everyone started the year with one eye on the mid-year anniversary.

Coming down the track
Upcoming regulatory changes

Published 08 April 2025

The FCA introduced changes to the Consumer Credit Source Book from 4 November 2024. For consumer credit firms, the important changes to review are: CONC 1.1 – Application and purpose CONC APP 1.2 – Total charge for credit rules for other agreements CONC 5.2A – Creditworthiness assessment CONC 6.7 – Post contract: business practices CONC 7.

Better safe than sorry?
Do lenders need to make enquiries about vehicle recalls?

Published 08 April 2025

The recent (and largely unsuccessful) increase in claims against motor finance lenders relating to a vehicle’s previous keeper history has brought into focus what checks (if any) lenders need to make before entering into a motor finance agreement. In this article, we consider whether there is a need to make enquiries about any outstanding recalls before supplying a vehicle.

A bump in the road
The effect of the Court of Appeal’s decision in Johnson

Published 08 April 2025

The Court of Appeal’s decision in Johnson v FirstRand Bank Limited (London Branch) [2024] EWCA Civ 1282 came as a considerable surprise to the motor finance industry (and many other financial services industries). This short article considers the decision and what will happen next. The facts Each claim involved a consumer visiting a dealer, selecting a vehicle and wanting finance.

Unlocking lending opportunities
The truth about open banking and loan approvals

Published 08 April 2025

Brandon Wallace, Senior Product Manager at financial data intelligence company Bud, explains why, contrary to misconceptions, use of open banking data in the affordability assessment process can help lenders increase approvals without taking on extra risk. It’s a common misconception in the lending industry that using open banking data in lending processes will lead to an increase in declines.

Access to credit
Key themes from Martha Stokes CCTA Conference panel discussion

Published 08 April 2025

I had the pleasure of joining a panel on access to responsible credit at the recent CCTA Conference, alongside experts on this issue from government and industry. It was great to hear the views and suggestions of my fellow panellists, in particular the importance of collaboration and the potential for partnerships between mainstream and alternative lenders.

Securing the future of UK collections
The power of network tokenisation

Published 08 April 2025

In the UK collections industry, security, efficiency, and customer trust are essential. As digital payments become the norm, financial service companies face a unique set of challenges, including managing recurring payments securely, reducing operational costs, and minimising fraud risks.

From policy to practice
Addressing the challenge of supporting vulnerable customers

Published 08 April 2025

Ensuring customers have an appropriate degree of protection is central to the FCAs mission. Under the Vulnerable Customer Guidance (FG21/1), the FCA expects vulnerable customers to receive outcomes equal to the treatment of other customers. Treatment must be consistent and fair across the end-to-end product and customer lifecycle. The FCA’s focus on vulnerability continues to sharpen.

The wind of change
Harnessing data to support financially vulnerable customers

Published 08 April 2025

Amid continued economic uncertainty and an unexpected inflation rise to 3.9% in January, many UK residents are turning to borrowing to help manage their money and make ends meet.

HM Treasury publishes action plan on regulation – aims to support growth

Published 18 March 2025

Yesterday, the Chancellor met top regulator bosses in Downing Street to discuss an action plan on regulation. The review aims to cut the administrative cost of regulation, make Britain the best place to do business and drive economic growth. We applaud the ambition and the speed at which the Government has been moving.