Building trust in the lending process
The role of transparency and decision systems

Published 28 November 2024

In the competitive landscape of alternative lending, trust is not merely an asset; it is a necessity. As consumers increasingly seek clarity and fairness, lenders must step up their game, creating a transparent environment where borrowers feel informed and secure in their decisions.

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.

CCTA Annual Conference 2024

Published 10 October 2024

Last week we held our annual conference at the Radisson Blu, Manchester airport. In keeping with recent tradition, we held our member dinner the night before the conference. Our dinner provided the opportunity for attendees to catch up with colleagues from across the sector and discuss relevant issues in a relaxed setting.

The Mental Health Moratorium
An important new measure in debt recovery in Scotland

Published 02 October 2024

The Bankruptcy and Diligence (Scotland) Bill was passed by the Scottish Parliament on 6 June 2024. It is not yet known when it will come into force, but an important milestone has been passed. The Bill brings into force an important new measure in debt recovery in Scotland, namely the introduction of a Mental Health Moratorium.

A strategic framework for successS
Enhancing consumer complaints handling

Published 25 September 2024

“Complaints! It’s easy, right?” As industry representatives, we often hear this. At its core, handling complaints is about addressing customer needs and restoring faith in the brand, epitomising ownership. However, to keep it “easy,” you need robust planning and implementation, which is anything but easy.

Holding cyber criminals accountable
Mooji V Persons Unknown

Published 18 September 2024

n the ever-evolving landscape of cyberspace, legal disputes can arise where the identity of the alleged wrongdoers are shrouded in anonymity. These disputes present unique challenges for the traditional legal frameworks, particularly determining accountability. A case that has explored this area further is Mooij -v- Persons Unknown.

The importance of field knowledge
Don’t underestimate ‘doorstep data’

Published 16 September 2024

A year ago, my colleague Rob Oxley wrote in a CCTA Magazine article that “a one size fits all approach to consumer debt recovery isn’t effective” but accepted that “a fully tailored approach to each and every customer isn’t possible – or at least not without access to quality data.” In 2024, there’s no doubt that customer data is king.

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.

Please do not ask for credit…
The need for a functioning credit market for all

Published 11 September 2024

Credit is an emotive subject, especially when it is used by lower income households. When used in the wrong way, credit can lead to bad outcomes. It should not be a substitute for better wages and social security benefits. It can be harmful and lead to problem debt, court action and increased anxiety and misery.

Reflecting on the Consumer Duty
One year on…

Published 09 September 2024

Lantern discuss their Consumer Duty journey so far and reflect on the last twelve months. The thought process and actions taken regarding their Annual Report are also considered.

End of a chapter?
Considering wind-down plans

Published 04 September 2024

The FCA’s focus on the content and quality of wind-down plans (WDPs) continues, most recently with the regulator creating a new webpage in March 2024 advising firms how to prepare effective WDPs.

The importance of truthful advertising
Marsh Finance consider the FCA’s stance

Published 02 September 2024

In the ever-evolving world of car finance, staying abreast of regulatory changes is not just advisable; it’s imperative. The FCA recently underscored this necessity by publishing an update on its efforts to curb misleading adverts and financial promotions.