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.

FCA roundtable on Consumer Duty implementation

Published 28 February 2023

This note is a readout from a meeting we recently attended with the FCA. This will interest CCTA members who are involved in Consumer Duty implementation. INTRODUCTION As part of our policy and advocacy work, we attend the FCA’s regular roundtable meetings on Consumer Duty.

‘The Future of Credit’ research – comments by CCTA CEO

Published 22 February 2023

Nice to be invited to the Finance and Leasing Associations dinner tomorrow, always a remarkable event. More important than the invitation to dinner is the strong collaboration between credit associations on issues that are of importance to our members. One of the common areas of work is the promotion of the value of credit to UK families and businesses.

CCTA Chief Executive announced as Credit Week Leadership Awards finalist

Published 14 February 2023

I am very pleased to hear that I have been shortlisted for Business Leader of the Year in Alternative Finance award held during Credit Week. These are always interesting awards reflecting credit leadership across a range of sectors. Organised by Credit Strategy every year we watch our members do well across the sectors.

FOS discussion update

Published 09 February 2023

It was good to talk to the Financial Ombudsman Service earlier in the week. We raised some concerns that our members had during the FOS discussion. However, we also welcomed their commitment to more engagement with the consumer credit industry.

Path to Success: an update on membership services

Published 24 October 2022

In the last edition of our magazine, I spoke about some exciting CCTA plans to further develop our services as a trade association. This edition presents a good opportunity for me to update our members. Both long-standing members and those who have joined us recently.

Up in the Air: When is it appropriate to lend to those with CCJs?

Published 24 October 2022

In the latest issue of CCTA Magazine, we asked Lex Jones of the Registry Trust to talk a little more about the importance of the work that they do on county court judgments (CCJs). The CCTA is a strong supporter of their Get Satisfaction campaign. It is vital to ensure judgments are kept up to date.

Changing Track: What the new government means for the industry

Published 24 October 2022

Following Boris Johnson’s somewhat forced resignation in July, a new leadership contest for the Conservative Party took place over the summer. This meant a change of Prime Minister and a new Government. Truss emerges as Prime Minister. Liz Truss MP, winner of the leadership contest became Prime Minister shortly after.

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.