CEO COMMENTARY: Salary Finance- unregulated payday loans in disguise?

Published 21 January 2021

Salary finance, or advance, schemes seem to have grown rapidly in recent times. These schemes allow employees to access their salary early on the grounds that this will enable them to better manage their finances.

CEO UPDATE: One week in – big challenges and our first steps

Published 13 January 2021

Now into my first full week as I started my new role as Chief Executive at the CCTA, I have been taking the first few steps towards implementing the new strategy that we have agreed with the Council.

LETTER TO ECONOMIC SECRETARY: Consumer Credit Act – A case for reform

Published 03 December 2020

John Glen MP Economic Secretary to the Treasury HM Treasury 1 Horse Guards Road London, SW1A 2HQ Dear Economic Secretary CONSUMER CREDIT ACT – THE CASE FOR REFORM Our trade associations represent a wide range of specialist lending companies across the lending and leasing sector.

OVERVIEW: Consumer Credit Act – A case for reform

Published 03 December 2020

The Association of Alternative Business Finance (AABF), the British Vehicle Rental & Leasing Association (BVRLA), Consumer Credit Trade Association (CCTA) and the Finance & Leasing Association (FLA) represent lenders and leasing companies across the UK.

CCTA Response: The Woolard Review

Published 02 December 2020

FCA Call for Input: Review into change and innovation in the unsecured credit market (The Woolard Review) CCTA welcomes the opportunity to comment on the review into change and innovation in the unsecured credit market.

CCTA ARTICLE: Greg Stevens CEO – Addressing the issues

Published 24 November 2020

For only a small handful of people has 2020 been a good year, Geoff Bezos and Joe Wicks spring to mind. For most other businesses and individuals, it has been lousy. The retail banks have had mixed blessings.

CCTA COMMENT: FCA – Christopher Woolard to chair review of unsecured credit market regulation

Published 17 September 2020

The below Financial Conduct Authority (FCA) announcement details that Chris Woolard the FCA Interim CEO, until the recent appointment of Nikhil Rathi as the new CEO, will chair a far-reaching review of the unsecured lending market that will have implications for many CCTA members.

Latest ONS employment figures highlight growing need for short-term credit

Published 16 October 2019

The latest employment figures from the Office of National Statistics published earlier this week, have reported an unexpected increase in the unemployment rate to 3.9% in the June-to-August period after the number of people in work fell by 56,000.

Personal finances in the UK have “sunk to all time lows”

Published 03 October 2019

10.5 million Britons are in the worst financial position of their lives New research commissioned by FairMoney.com has revealed that an astounding 10.5 million Britons are in the worst financial position of their lives. The research, entitled ‘Brexit Broke Me’ has also found that over half of Britons (53%) have disposable incomes of less than £0.

Business as Unusual

Published 28 August 2019

Any belief that the summer holidays and time away would ease the political logjam that is Brexit has floundered before Parliament returns on 3rd September, and with it any reasonable hope that constructive discussions could begin with Government Departments, on the business issues of the day.

Credit Strategy: It’s a sea of uncertainty for SME’s and consumer credit firms

Published 09 August 2019

Written for, and published by Credit Strategy – JULY 2019 GO TO WEBSITE + Just when we thought the uncertain environment within which we operate could get no more opaque, we’re met with further changes from FOS and indeed, a question on the competence of the FCA.

CCTA responds to the FCA’s Alternatives to High cost Credit Report

Published 26 July 2019

This week, the FCA published a report on the alternatives to high-cost credit (HCC) and set out the actions and recommendations to improve the availability and awareness of those seeking an alternative to HCC.