Braking point?
What the cost-of-living crisis means for the car finance sector

Published 17 July 2023

THE COST OF LIVING CRISIS IS CHANGING THE FACE OF DEBT “Problem debt only affects people on low incomes”. That’s a misconception we hear at StepChange Debt Charity on a regular basis. But now more than ever, it’s just not the reality we see every day.

Open banking in action
Greater flexibility and automation to benefit lenders

Published 17 July 2023

From streamlined collections for lenders to increased financial control and tailored repayment options for borrowers, including open banking payments as part of a customer-centric collections strategy is paving the way for a more inclusive and secure lending ecosystem.

Minister talks about access to credit

Published 20 April 2023

We are always interested in hearing from Andrew Griffith, Economic Secretary to the Treasury. He is also referred to as the city minister because financial services fall within his area of responsibility. So when he spoke at the Mansion House about Financial Literacy and Inclusion, it was good to hear him talking about the importance of access to credit.

Increasing regulatory burden leads to a drop in regulated supply

Published 13 April 2023

We are currently reviewing the FCA Strategy to determine its implications for our members. That is being considered alongside the FCA’s proposed regulatory fees and levies. Too often regulators set rules that work well for the big banks and mega insurance companies.

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.