Improving consumer outcomes
What role does technology pay?

Published 16 March 2023

Designed to ensure higher and clearer standards for consumer protection, the new Consumer Duty regulation requires firms to take decisive action. Despite the initial consultation finding that many organisations were happy to embrace these changes, it was also acknowledged that extensive programmes of work would be required.

Fair warning given
FCA expectations in regards to handling BIFD

Published 16 March 2023

It’s been just over three months since the FCA published its report on borrowers in financial difficulty (BiFD) in November 2022.

Adding to the toolbox
Optimistic collection success: Benefits of offering multiple payment options

Published 16 March 2023

Fuelled by the pandemic, the consumer finance and lending landscape has changed dramatically in recent years. The demands of today’s tech-literate population are higher than ever, and consumers expect a streamlined end-to-end payment experience.

Bracing for impact
ID.VU thought leadership

Published 16 March 2023

Data On Demand take a look at the backdrop of the cost-of-living crisis focusing on the changing impact to consumers, what firms can do to help and what their own insights show.

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.