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Archives: July 2016

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Could PCP become the new PPI?

The UK’s total consumer debt bill is close to £200bn and is growing at its fastest rate for 12 years.  The Bank of England is afraid to increase interest rates, because of the memories of the 2008 financial crisis, when …

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Retailers, Dealers and Lenders. Will sales commissions become a thing of the past?

The FCA’s recent consultation on staff[1] remuneration and incentives[2] should really come as no surprise to lenders, but its reach beyond regulated lending into sales practices in retailers and dealers, the success of whose businesses is down to the growth …

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Brexit – What are the implications for UK consumer credit firms?

Whilst there is considerable ongoing discussion and speculation about the impact of Brexit, much of this has been about the economic and political consequences of this historic event. How do we think consumer credit lenders might be affected? Apart from …

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Pay Day Lenders – Are you complying with the Payday Lending Market Investigation Order 2015?

On 13 August 2015, the CMA’s Payday Lending Market Investigation Order 2015 (“the Order”) became effective. To what does the Order apply? The Order applies to a ‘Payday loan’ if it: is unsecured, has an APR of 100% or more, …

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New complaint rules impose extra reporting burden on firms

The FCA have announced new rules centred around improving the complaint handling process. Under the existing rules, firms are able to handle complaints less formally and without having to report the complaint provided it is resolved by the end of …

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FCA & Consumer Credit Regime DWF help you navigate through the changes.