Where the Power Really Lies

Published 10 October 2017

On the credit card announcement, what was especially noticeable was that the substantive response came from the FCA, rather than Government Ministers.

The Dog that Finally Barked

Published 10 October 2017

One of the convenient things about having a Neo-Marxist opposition is that it makes the business of policy prediction a whole lot easier.  With New Labour, you could never be quite sure where its ‘triangulation’ would lead.  It mostly served up policies that were ‘Thatcher-lite’ in nature, whether on the economy or law or order and even foreign policy.

PCP: Are We Heading for a Major Crash?

Published 26 September 2017

Opinion and forecasts for the PCP market are proliferating at the moment as we hear from MP’s, consumer groups and the like, about the potential impact that the ‘debt crisis’ could have on the PCP market – especially as affordability criteria is tightened and interest rates are set to rise.

Setting Leadership, Tone and Culture Standards for the Financial Services Industry

Published 26 September 2017

The consumer credit industry has a legacy that goes back for decades. As a dynamic industry, it has stood the test of time, weathering the storm of changing markets; embracing new legislation; complying with changing regulations, and adapting to the changing requirements of consumers over time.

The FCA’s HCC Review and Affordability Proposals under the Microscope

Published 18 September 2017

These two dossiers will have long lasting impacts on all credit businesses, but particularly CCTA members. In this month’s podcast, Greg Stevens is joined by two regulatory experts to assess the effects and ask what can be done, if anything, to offset the more damaging aspects.

Access to Credit and Funding

Published 18 September 2017

A key theme for the CCTA in 2017-18 will be ‘Access to Credit and Funding’.  It will be a central theme of our conference in November and our engagement with the regulator and policy makers throughout the autumn and into 2018.

More Bank Closures Herald Further Access to Credit Issues

Published 14 September 2017

This week, consumer body, Which? has reported that bank branch closures are occurring at a faster rate than ever, with 703 set to shut this year. The report reveals that 461 branches closed in 2015, while 583 shut last year, bringing it to a total of 1,747 in three years.

Assessing Creditworthiness in Consumer Credit (aka Consultation Paper on Affordability)

Published 31 July 2017

The easiest way to understand what the FCA wants to see on creditworthiness and affordability is to look at Table 1 on Page 7 of the Consultation Paper published this morning. This contains a schematic for ‘profitable and affordable’ lending (good) versus ‘profitable but unaffordable’ lending (bad).

High Cost Credit Review: Feedback Statement 17/2

Published 31 July 2017

The FCA starts by giving itself a big regulatory pat on the back for saving 760,000 consumers some £150 million thanks to its actions on High Cost Credit and in particular the introduction of the payday price cap.

Bank of England Puts the Focus on Affordability

Published 18 July 2017

Hot on the heals of Andrew Bailey’s speech, two announcements from the Bank of England revealed its concern about personal borrowing levels and the impact they could have on the nation’s economic prospects more generally. First, the Bank’s June Financial Stability Report identified consumer lending as a “pocket of risk” and instructed banks to hold an extra £11.

Andrew Bailey on HCC Review and Access to Credit

Published 18 July 2017

Away from the chaos and confusion of Westminster, the regulator delivered a welcome dose of clarity in a thoughtful speech to the BBA retail banking conference on 29 June (the last such to a BBA conference following the body’s official integrated into UK Finance). There were two passages of particular note to the credit industry.

Politics Round Up – 18 July 2017

Published 18 July 2017

After a brief period of relative calm and respite for the Government, things have turned precarious again.