A look under the bonnet
Automotive finance

Published 16 March 2023

Auto Trader has been authorised by the FCA, with permissions to be a credit broker, since 2016. In 2017, we launched our dealer finance product and now 74% of our retailer partners offer finance products through our platform. We have also offered valuation pricing insights since 2013 and categorise these into retail, trade, private and part-exchange valuation types.

A step too far
Sheriff Appeal Cour: Alan King V Black Horse + Parks

Published 15 March 2023

The Sheriff Appeal Court (SAC) recently considered whether a hirer under a hire purchase agreement was entitled to rely upon his rejection of a motor vehicle when he had continued to use the vehicle after rejecting it. THE BACKGROUND Black Horse supplied Mr King with a motor vehicle under a hire purchase agreement in June 2019.

Experiencing technical difficulties
A consequence in the rise of online banking for creditors in Scotland

Published 15 March 2023

Many readers will be aware that a Bank arrestment is a commonly used enforcement tool in Scotland post the granting of a Decree (Judgement) for payment.

An axe to grind?
Safeynet Credit V Impakt Claims

Published 15 March 2023

You may recall the claims management regulator was a unit of the Ministry of Justice and it regulated companies providing claims management services to England and Wales.

An eye on the ball
Ongoing issues outside of Consumer Duty

Published 14 March 2023

There is no doubt that Consumer Duty has been our primary focus for over a year now, and you will have heard about the activities, events, and engagements we are carrying out to support our members with the Duty.

Looking ahead
Third year plans with our chief executive

Published 13 March 2023

I recently received a notification on social media that I had passed my second anniversary as Chief Executive of the Consumer Credit Trade Association. It came as a little bit of a surprise as the time just seems to have flown by.

Challenges ahead
Debt and the cost of living: Three ‘must adopt’ strategies

Published 10 March 2023

As we enter 2023, there has been a discernible shift in the conversation around the UK’s cost-of-living crisis. Increasingly, the focus is on a subject we know all too well: household debt.

Can’t see the wood for the trees?
Enhancing clarity in debt consolidation

Published 09 March 2023

Customers with existing credit (whether loans, credit cards or hire purchase deals) are frequently targeted with tempting promotions for 0% introductory deals or personal loans with lower APRs than they currently pay.

Restoring stability
Using data and insights to support vulnerable customers in the cost-of-living crisis

Published 08 March 2023

Consumers in the UK are facing increasing financial pressure amidst the rising cost of living. Inflation hit 10.1% in the twelve months to January 2022, whilst the Bank of England raising base rates to 4.0% has significantly increased the cost of borrowing money.

Joining the dots
Considering the price and value outcome

Published 07 March 2023

The price and value of regulated financial services products has long been in the FCA’s spotlight. The Consumer Duty is strengthening the FCA’s focus in this area. While the FCA already has powers to regulate certain aspects of pricing for financial products and services, its primary focus has been around consumer protection and market integrity.

Grasping the nettle
Identifying and supporting vulnerable customers

Published 06 March 2023

Vulnerability Registration Service (VRS) produced our Vulnerable Customer Exclusion report at the end of last year and it showed some frightening but not surprising statistics.

Breaking the silence
It’s time to talk about illegal lending

Published 10 October 2022

Illegal money lending has a devastating, traumatic and long-lasting impact on victims, families and wider communities. This is driven by the predatory behaviour of loan sharks, which involves significant levels of harassment, intimidation and violence. Ruthless loan sharks exploit people in desperate need of quick cash.