Call for Input on mass redress – an opportunity for change

Published 06 February 2025

Last week we submitted our response to the Call for Input on modernising the redress system. We took this as an opportunity to raise a couple of wider key topics that we were keen to include around the complaints process.

The importance of smaller lenders

Published 23 January 2025

The news that Santander may leave the UK market has grabbed the headlines. There has been, and we are sure there will continue to be, a lot of discussion about the regulatory burden. The costs mentioned are significant, often more like telephone numbers. The risk is that we focus on those big numbers and the big brands.

An update on motor finance

Published 19 December 2024

As many of you will know, the motor finance world was hit hard in October with the Court of Appeal judgment in the Johnson v FirstRand Bank Limited, Wrench v FirstRand Bank Limited and Hopcraft v Close Brothers cases.

Movement on access to credit

Published 08 November 2024

Access to credit has always been central to the work of the CCTA since it was founded over 130 years ago. We have a long-standing project to protect access to responsible credit for customers that often struggle to borrow elsewhere.

CCTA Annual Conference 2024

Published 10 October 2024

Last week we held our annual conference at the Radisson Blu, Manchester airport. In keeping with recent tradition, we held our member dinner the night before the conference. Our dinner provided the opportunity for attendees to catch up with colleagues from across the sector and discuss relevant issues in a relaxed setting.

FCA keeps a firm grip on the oversight of Appointed Representatives

Published 12 September 2024

Last week the FCA published the findings of its review of how principal firms are meeting its enhanced appointed representative rules, introduced in December 2022. As a reminder, an appointed representative (AR) is a firm that undertakes regulated activities and acts as an agent for a firm directly authorised by the FCA.

Reducing the burden

Published 08 August 2024

The end of July saw the first anniversary of the implementation of the FCA’s Consumer Duty. This meant vast amounts of work undertaken by regulated firms to prepare, looking to embed the Duty in every stage of the customer journey.

Consumer Duty – one year on

Published 01 August 2024

It has now been one year since the Consumer Duty came into force for new and existing financial products and services. We are sure that firms will agree; it has been quite a journey so far! The implementation of the Duty has been a somewhat phased approach.

What’s happening in the motor finance market?

Published 26 July 2024

After a mortgage, the purchase of a vehicle is often the second largest expense within a household, which is why a range of motor finance options have developed over the years to assist families in making this purchase. The CCTA membership includes motor finance firms of different sizes with various specialisms across the sector.

What would be in the CCTA Manifesto?

Published 02 July 2024

As we head towards polling day for the general election on the 4th of July, we have now seen the manifestos from all the main political parties. The purpose of a manifesto is to outline the steps a party would take, if they get the opportunity to form a government.

FOS consults on charging CMCs

Published 10 June 2024

A general election wasn’t the only announcement we saw in late May. The Financial Ombudsman Service (FOS) also published its next consultation on plans to move forward with charging professional representatives, including Claims Management Companies (CMCs), to access their service. We, along with many CCTA members, responded to the last consultation calling for action to be taken.

The general election and a possible change in government

Published 30 May 2024

On the 22nd of May, Rishi Sunak surprised most of the UK by calling a General Election to take place on the 4th of July. Much of the political world thought it would take place in the autumn, but there was a growing sense that this was as good as it would get for the Conservatives.