Going the extra mile
Best practice for vulnerable customers

Published 22 July 2021

I recently had the pleasure of hosting a Summit wholly dedicated to Vulnerability.

In chains?
Business development shackled by limited access to working capital

Published 22 July 2021

During the COVID-19 pandemic, 68 percent of small and medium businesses in the UK reported a negative impact on cash flow, and, for any business where success is built on supplying funding to others, having access to working capital is crucial.

Dangerous waters
Hunting the loan sharks

Published 22 July 2021

The England Illegal Money Lending Team (IMLT) are a specialist unit that investigate cases, prosecutes illegal lenders and provides support for borrowers in need of assistance.

Building blocks
Covid-19 economic recovery and CCJ data

Published 21 July 2021

Registry Trust maintains the Register of Judgments, Orders, and Fines for the UK and Ireland. We hold historical and ‘live’ data on monetary County Court Judgments (CCJs), which provides a picture of indebtedness and creditworthiness at a national and regional level and can be used to inform responsible lending and borrowing, policy making, and business decisions.

Bounce back?
Household financial crunch continues

Published 21 July 2021

Evidence continues to emerge demonstrating the scale of the crunch on household finances and its likely consequences. The March Budget brought welcome news of extended supports and measures, now lasting until September 2021, which will assist household’s finances as the UK moves onwards from a deeply challenging year.

Guiding light
Mortgage prisoners – what steps can the industry take to help?

Published 21 July 2021

In the UK, borrowers trapped in their current, more expensive mortgage who can’t re-finance for a cheaper loan have been dubbed ‘mortgage prisoners’ in recent years. The pandemic shone a spotlight on their situation.

Tread gently
Safeguard and protect – Is this what the FCA really mean?

Published 21 July 2021

The very clear message from the Financial Conduct Authority (FCA) in their Guidance for firms on the fair treatment of Vulnerable Customers (FG21/1) is that organisations must have good clear strategies for identifying and dealing with vulnerable customers.

Space to breathe
Adapting systems for breathing space

Published 21 July 2021

Coming into force on the 4th of May 2021, The Debt Respite Scheme, otherwise known as breathing space, will impact how consumer credit lenders and debt collection agencies interact with individuals struggling to manage their debt.

Road to recovery
The FCA’s covid roadmap

Published 21 July 2021

As we all patiently navigate the four steps of the roadmap out of lockdown, users (and providers) of personal loans, credit cards, store cards, catalogue credit, rent to own, buy now pay later, pawnbroking, motor finance and high-cost short-term credit (HCSTC), will also be on their own, often personal, journeys on the road to recovery.

Lees V Lloyds
Court dismisses repetitive data subject access requests

Published 21 July 2021

In the case, Lees v. Lloyds, the data subject, Mr Lees (the claimant) issued a claim against Lloyds Bank Plc (Lloyds) for failing to provide an adequate response to various Data Subject Access Requests (DSARs) in breach of the Data Protection Act 2018 (DPA 1998) and General Data Protection Regulation (GDPR).

Responding to data breach claims
A common sense approach

Published 21 July 2021

In the run-up to GDPR, the focus was on the fines that data protection regulators can impose for infringements. Another issue that has become increasingly significant is that of data breach claims, compensation and costly group litigation. Under GDPR and the Data Protection Act 2018, individuals can claim through the courts for compensation for “material” (i.e.

Forebearance
Too much of a good thing?

Published 21 July 2021

The Financial Conduct Authority (FCA) warned consumers in its Mortgages and Coronavirus: Information for Consumers Guidance of 27 January 2021 that: “If a repossession on your home is stopped and you don’t keep up with payments, the total amount you owe will increase.