Staying out of hot water
The FCA’s continued focus on financial promotions

Published 21 August 2024

There can be no doubt that the Financial Conduct Authority (FCA) sees financial promotions as a potential high-risk area for consumer harm. They are the proverbial ‘front shop’: the way in which customers become aware of different ways to finance a product. The FCA is already starting to flex its muscles on financial promotions.

Shining light on an important cause
TransUnion partners with Andy’s Man Club

Published 19 August 2024

TransUnion, a global information and insights company and one of the UK’s leading credit reference agencies, has announced its partnership with Andy’s Man Club, a charity that works to eliminate the stigma around mental health by creating a judgement-free confidential space where men can be open about their challenges.

Forward thinking
Improving customer outcomes through open banking transaction data

Published 14 August 2024

Brandon Wallace, Product Manager at transaction data intelligence specialist Bud, explains why he believes forward-thinking lenders should use transaction data to improve outcomes throughout the lending lifecycle. Access to credit isn’t just about borrowing money – it’s about empowering people to manage their finances and navigate life’s ups and downs with confidence.

Regulatory changes in consumer credit
Insights and strategies for the year ahead

Published 12 August 2024

The last twelve months have been a busy period in the regulation of consumer credit. The FCA has continued to focus on affordable lending, customers in financial difficulty and more recently on the treatment of vulnerable customers.

A change in direction?
What a new Labour government could mean for the industry

Published 07 August 2024

GENERAL ELECTION RESULT Labour won the recent General Election with a landslide victory. The party now has a majority in the House of Commons of 170, close to what Tony Blair achieved in 1997. However, they achieved a relatively modest share of the vote for a governing party.

A new day…
A new government, a new fraud strategy

Published 07 August 2024

As the dust settles on an eventful election campaign and newly appointed Ministers find their feet, it’s only right that we should ask what next for fraud policy under the new Labour Government.

Increasing uncertainty
Consumer-led litigation

Published 05 August 2024

THE INCREASE IN CONSUMER-LED LITIGATION The past ten or so years have seen an explosion in consumer-led litigation. For example, the Supreme Court has considered the following: whether there is an unfair relationship where a lender keeps 71.

Bank’s liability for customer fraud
Supreme Court gives its decision

Published 27 May 2024

The Supreme Court has given its eagerly awaited decision in the case of Philipps against Barclays Bank UK PLC. The litigation involved an “authorised push payment” (APP) fraud. In this type of dishonesty, the victim is persuaded to authorise their bank to send a payment to an account controlled by a fraudster.

Out with the old
A review of the Consumer Credit Act

Published 20 May 2024

The Consumer Credit Act of 1974 covers all credit agreements in the UK, from credit cards to personal loans. There are few households across the country that will not hold some form of agreement that falls under it.

Litigation funding
Post-Paccar legislation to be introduced

Published 13 May 2024

The government has recently announced that it will introduce legislation to reverse the Supreme Court decision in PACCAR Inc & Ors v Competition Appeal Tribunal & Ors [2023] UKSC 28.

Navigating the issues
Consumer Duty, forbearance and good outcomes in consumer credit

Published 08 May 2024

WHAT REGULATATIONS HAVE CHANGED FOR CONSUMER CREDIT FIRMS? Making smart financial decisions in an uncertain economic climate can be challenging for some borrowers and in its 2022 to 2025 strategy, the FCA recognised this challenge, stating: “Combined with greater vulnerability among consumers due to the pandemic, this (the rising cost of  living) may drive greater demand for a range of

King V Black Horse Ltd
It’s possible to use a vehicle after rejecting it

Published 29 April 2024

INTRODUCTION There is often a difficult question where consumers under hire purchase or conditional sale agreements continue to use a vehicle after rejecting it.