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.

Opportunities and threats for creditors in the new Parliament

Published 10 July 2017

Our second CCTA podcast features Julian Knight MP and Chris Pond, two heavyweights on credit policy and politics. They talk to Greg Stevens about Breathing Space, Affordability, the new Minister for Financial Inclusion, runners and riders for the TSC chair, and other topics that will dominate the next 12-24 months in Parliament.

Bank of England

Published 03 July 2017

Meanwhile, two announcements from the Bank of England were closely scrutinised for what they reveal about the state of lending markets and the nation’s economic prospects more generally. On Tuesday, the Bank’s monthly Financial Stability Report identified consumer lending as a “pocket of risk” and instructed banks to hold an extra £11.4bn in ‘countercyclical buffers’ to guard against related losses.

Andrew Bailey

Published 03 July 2017

Away from the drama at Westminster, Andrew Bailey delivered an important and revealing speech to the BBA retail banking conference on Thursday (the last such to a BBA conference following the body’s official integrated into UK Finance).

Politics

Published 03 July 2017

As tiresome as it might be, it is hard to get off the topic of national politics at the moment.  Every day Parliament serves up new drama and a kaleidoscope of uncertainty. On the Conservative side, last week brought U-Turns on flagship economic policy led by Cabinet ministers, not the Prime Minister.

The Queen’s Speech

Published 26 June 2017

The Government hangs by a thread and Brexit will dominate the legislative agenda, but four new bills and Jeremy Corbyn will ensure that credit also looms large in parliamentary debate. After a week’s delay and much conjecture about its contents, Her Majesty finally delivered a ‘filleted’ Queen’s Speech on Wednesday.

FOS

Published 19 June 2017

On the industry front, the big news of last week was FOS’s annual figures for 2016-17.  You can see these in full here. They show an 89% increase in complaints about ‘consumer credit products and services’ from just under 14,000 in 2015/16 to 26,000 in 2016/17.

The New Parliamentary Intake

Published 19 June 2017

Jeremy Corbyn’s unexpected surge in the polls has certainly shaken up the national picture, but it has also changed the face of the House of Commons in ways we didn’t expect.  There are a number of firsts. It is the most diverse House of Commons ever with a rise in the number of women, LGBT and ethnic minority MPs elected.

Politics Update – Monday 19 June 2017

Published 19 June 2017

There is very little that’s certain in our national politics at the moment.  Parliament is hung; Theresa May’s premiership hangs by a thread; a week into negotiations and she has yet to strike a ‘confidence and supply’ deal with the DUP.

Landslide to Landslip

Published 12 June 2017

Strong and stable has not been delivered by the Conservatives, but unsteady and unstable has. At a time when business in all sectors needs a steadying influence as we approach BREXIT, politicians of all hues need to do the right thing, rather than choose political expediency.