FCA Performance – Meeting expectations or requires improvement?

Published 01 July 2019

The Financial Conduct Authority (FCA) has come under the cosh of late and this showed no signs of abating on Tuesday when Chief Executive, Andrew Bailey and Chair, Charles Randall appeared in front of the Treasury Select Committee to present a biannual report on the work of the FCA.

CCTA welcomes the plans of home credit lender, Morses Club, which will provide more access to responsible credit

Published 16 April 2019

Over the weekend, an article published by the This is Money website gave a refreshing insight into the provision of home credit. The home credit industry is frequently maligned in the press and by consumer activists but this particular article highlighted how there are approximately 10 million people in this country who cannot borrow from mainstream banks or building societies.

UK businesses tell ministers to act now to stem the flow of business casualties and the litany of rising costs.

Published 28 March 2019

The great and the good of business and politics have congregated today at the British Chambers of Commerce annual conference. Adam Marshall, director-general, gave a pointed and remarkable opening address as he accused politicians of “letting British business down.” He told the conference: “We are frustrated. We are angry. You have let British business down.

My message to legislators, the regulators and industry colleagues for Credit Week 2019

Published 20 March 2019

Yesterday, I had the pleasure of addressing many MPs, political figures, the FCA and industry colleagues at the Credit Week Parliamentary Reception. As Chief Executive of the CCTA, representing over 200 businesses, including lenders, brokers, debt purchasers and suppliers to the industry, my message was about the proportionality of credit regulation.

Speech: Greg Stevens at the Credit Week Parliamentary Reception

Published 19 March 2019

Credit Week 2019: Parliamentary Reception Date: 19 March 2019 Venue: Houses of Parliament Time: 12.15 to 3.00 p.m. Good afternoon, it’s a pleasure to be here celebrating Credit Week with you. I would like to thank Credit Strategy for organising, and our parliamentary hosts for welcoming us to the Houses of Parliament.

Credit industry crisis is ‘leaving families at mercy of loan sharks’

Published 17 March 2019

An “alarming” number of cash-strapped families are being forced to borrow from illegal loan sharks or friends and family, MPs will be told this week.

In Search of Balance and Consensus

Published 14 March 2019

The CCTA held a briefing this morning for personal finance journalists and bloggers ranging from the Daily Telegraph to the influential consumer site, DebtCamel.

Time for the FCA’s helicopter parenting approach to credit users to end and let them make their own choices

Published 07 March 2019

The last few weeks have seen an unprecedented number of press releases from the Financial Conduct Authority regarding the consumer credit industry. The regulator has good intentions like any worthwhile organisation but its current cosseting approach does the consumer a disservice and is consequently narrowing their availability to responsible, regulated credit.

The financial grip squeezes ever tighter as one third of UK workers need a second income to make ends meet

Published 22 January 2019

The squeeze on people’s disposable income is growing ever tighter as the need for financial smoothing devices for many of the UK’s workers grows ever more important. New research from Gettasub has found that one third of workers (32 per cent) are actively considering taking a second job in order to stay afloat.

Tis’ the season of political uncertainty!

Published 12 December 2018

Today’s announcement by the 1922 Committee has meant we now have another round of madness as Conservative MP’s go for a Leadership Election, at the same time as the Prime Minister cavorts around Europe attempting to give CPR to a corpse. Nero is fiddling even faster as Rome burns.

Leaving the EU will be costly, but what is the price of remaining?

Published 03 December 2018

David Smith, wrote an insightful piece in The Times this week (Nov 27th) on why leaving the EU will be costly, but what is the price of remaining?   David, who spoke at our annual CCTA conference earlier this month, describes how the endgame of the first phase of Brexit is proving “even messier than feared.

CCTA responds to the FCA’s proposals to introduce a price cap on the rent-to-own market

Published 23 November 2018

On 22nd November, the Financial Conduct Authority proposed to introduce a price cap on the rent-to-own (RTO) sector. This will come into force on 1st April 2019, subject to consultation.