CCTA CEO comments on Provident Financial decision to close down home-collected credit and Satsuma brands

Published 10 May 2021

Commenting on the decision by Provident Financial to close down their home-collected credit and Satsuma brands, Jason Wassell, Chief Executive of the CCTA said: “This news is shocking and yet not a surprise to those watching alternative lending. We have long been concerned that the current regulatory framework does not work for the market, or its customers.

Coronavirus- the lasting financial impact

Published 15 April 2021

We are now more than a year into the Covid-19 pandemic, and I think it is safe to say that none of us predicted the impact it would still be having on our lives.

CCTA comment on the publication of the FOS plans and budget 2021/22

Published 31 March 2021

“We are particularly concerned about the changes surrounding the case fee announced in today’s publication. We do not believe any justification has been provided for a further rise in the case fee, following the increase introduced just last year. This has now increased by a third over the last two years.

CCTA Spring Summit

Published 17 March 2021

We held our first summit of 2021 this week for our members. It was great to have such good attendance from across all the different areas of the association’s membership. Though, we would prefer to be able to bring members together in a face-to-face environment, we must continue to meet virtually for at least the next few months.

CCTA comment on the departure of Caroline Wayman, CEO of Financial Ombudsman Service

Published 10 March 2021

“It is no secret that we have long been concerned about the management of the Financial Ombudsman Service (FOS). Our most recent concerns have been about the organisation’s finances- both the funding model and runaway spending. “Just as important is that we tackle Claims Management Companies’ (CMCs) activities.

What do we want from the budget?

Published 03 March 2021

At around lunchtime today Rishi Sunak will deliver his budget for the coming year. Arguably the biggest day of year for any Chancellor, this is a budget like never before as we will learn the true impact of the Covid-19 pandemic on the economy.

New FCA Guidance keeps vulnerability firmly on the agenda

Published 01 March 2021

In the last week, the Financial Conduct Authority (FCA) published its final guidance on the fair treatment of vulnerable customers. The treatment of vulnerable customers has been a key priority for the FCA, and it is an issue that has grown in prominence within financial services in recent years.

A Missed Opportunity: CCTA responds to the findings of the Woolard Review

Published 02 February 2021

A Missed opportunity “While we welcome some positives within the Review findings, such as recommendations to reform credit reporting and addressing the problems within the debt management market, this a missed opportunity to explore many of the issues facing the unsecured credit market.

Our views on the Financial Ombudsman Service budget consultation

Published 29 January 2021

The Financial Ombudsman Service (FOS) has been consulting on its plans and budget for the coming year. As the consultation closes, we wanted to share our thoughts. We feel the proposals will place increasing pressure on lenders and create an environment in which borrowers do not receive the best outcomes.

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.