Alerter by Ben Norton – Meaning of ‘deliberate’, ‘concealment’ and ‘breach of duty’ under s.32 Limitation Act 1980 – Henderson Chambers

Posted April 15th, 2021 in consumer credit, insurance, limitations, news by sally

‘Ben Norton considers the meaning of “deliberate”, “concealment” and “breach of duty” under s.32 Limitation Act 1980 in the context of the Consumer Credit Act’s unfair relationship provisions following Canada Square Operations Ltd v Potter.’

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Henderson Chambers, 19th March 2021

Source: www.hendersonchambers.co.uk

DWP facing legal challenge over lawfulness of ‘consultation’ ahead of National Strategy for Disabled People being drawn up – Local Government Lawyer

‘The Department for Work and Pensions (DWP) is facing a legal challenge over the lawfulness of its consultation on the proposed National Strategy for Disabled People.’

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Local Government Lawyer, 7th April 2021

Source: www.localgovernmentlawyer.co.uk

Crackdown as ‘buy now pay later schemes’ including Klarna to be regulated – The Independent

Posted February 2nd, 2021 in consumer credit, consumer protection, debts, news by sally

”Buy now pay later’ (BNPL) firms are facing a crackdown amid fears they are helping shoppers to purchase items they can not afford, resulting in increased levels of debt.’

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The Independent, 2nd February 2021

Source: www.independent.co.uk

Supreme Court lowers the bar – Law Society’s Gazette

‘On 11 December, in a long-awaited judgment (and in perhaps unique circumstances), the Supreme Court dismissed Mastercard’s appeal in the “gargantuan” collective action brought by Walter Merricks CBE. In doing so, the court has markedly lowered the bar to be applied at the certification stage for competition collective actions. This judgment will have a significant impact on collective actions – which are still in their relative infancy – for years to come. Merricks’ claim will now return to the Competition Appeal Tribunal (CAT), which will decide again (now with clear guidance from the Supreme Court) whether to certify the claim by granting a collective proceedings order (CPO).’

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Law Society's Gazette, 11th January 2021

Source: www.lawgazette.co.uk

Consumer Credit: Covid (Continued) and Concealed Changes – Henderson Chambers

Posted November 11th, 2020 in chambers articles, consumer credit, coronavirus, news by sally

‘The Financial Conduct Authority has again extended its Guidance on consumer debt and there are two largely unpublicised technical changes in the pipeline to beware of.’

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Henderson Chambers, 15th October 2020

Source: www.hendersonchambers.co.uk

Case Comment: Sainsbury’s Supermarkets Ltd v Visa Europe Services LLC and others [2020] UKSC 24 – UKSC Blog

‘In this case comment, David Bridge, Kenny Henderson, Jessica Foley, Devina Shah and Imtiyaz Chowdhury who all work within the Dispute Resolution team at CMS, comment on the decision handed down earlier this month by the UK Supreme Court in this matter of Sainsbury’s Supermarkets Ltd v Visa Europe Services LLC and others [2020] UKSC 24.’

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UKSC Blog, 30th June 2020

Source: ukscblog.com

Further Consumer Credit Debt Moratorium – Henderson Chambers

Posted April 28th, 2020 in consumer credit, coronavirus, debts, financial regulation, news by sally

‘Following last week’s moratorium imposed by the Financial Conduct Authority in relation to credit card debts, overdrafts and personal loans, the FCA is imposing a similar moratorium on hire-purchase (annoyingly referred to by the trendy term ‘rent-to-own’), high-cost short-term credit (payday loans), buy-nowpay-later deals (BNPL) and pawn agreements.’

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Henderson Chambers, 24th April 2020

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Three Month Moratorium on Consumer Credit Debts – Henderson Chambers

‘The Covid-19 crisis has led the Financial Conduct Authority to issue authoritative guidance to consumer credit lenders which will oblige them to grant a three month moratorium on debts and to reduce interest costs.’

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Henderson Chambers, 9th April 2020

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FCA: credit card firms must stop suspending all users in debt spiral – The Guardian

Posted February 4th, 2020 in consumer credit, debts, financial regulation, interest, news by sally

‘Britain’s financial watchdog has warned credit card firms against the blanket suspension of cards of consumers who are stuck in a debt spiral, telling them to reduce or waive interest and other charges instead.’

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The Guardian, 3rd February 2020

Source: www.theguardian.com

Gambling watchdog bans credit cards for online betting sites – The Guardian

Posted January 14th, 2020 in consumer credit, consumer protection, electronic commerce, gambling, news by sally

‘Gambling businesses are to be banned from allowing consumers in Great Britain to use credit cards to bet from 14 April, the Gambling Commission has announced.’

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The Guardian, 14th January 2020

Source: www.theguardian.com

Consumer Credit Act must be modernised urgently, says trade body – OUT-LAW.com

‘The next UK government must act urgently to bring consumer credit laws up to date, a trade body has said. The Finance and Leasing Association (FLA) said that lenders were prevented by the Consumer Credit Act (CCA) from stepping in to help customers in financial difficulty quickly enough, while requiring them to send “old fashioned and severely worded letters”.’

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OUT-LAW.com, 13th December 2019

Source: www.pinsentmasons.com

Merricks v MasterCard: Collective Actions Reinvigorated – Competition Bulletin from Blackstone Chambers

Posted April 17th, 2019 in class actions, competition, consumer credit, consumer protection, news by tracey

‘The Court of Appeal today gave its much-anticipated judgment in the application to bring collective proceedings against MasterCard: see Merricks v MasterCard Incorporated and others [2019] EWCA Civ 674. It is a major victory for the Applicant and will reinvigorate the collective proceedings regime, which has seen disappointingly few cases brought since its introduction in 2015.’

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Competition Bulletin from Blackstone Chambers, 16th April 2019

Source: competitionbulletin.com

Mastercard ruling: almost every UK adult could receive payout – The Guardian

Posted April 17th, 2019 in class actions, competition, consumer credit, consumer protection, news by tracey

‘Almost every adult in the UK could receive a payout of up to £300 from Mastercard after a court ruling paved the way for a £14bn class action lawsuit.’

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The Guardian, 16th April 2019

Source: www.theguardian.com

FCA to focus on affordability and culture in regulation of consumer credit – OUT-LAW.com

Posted March 27th, 2019 in banking, consumer credit, financial regulation, loans, news by sally

‘The UK’s Financial Conduct Authority (FCA) has set out its priorities for the future regulation of the consumer credit sector, including the impact of the Senior Managers and Certification Regime (SMCR).’

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OUT-LAW.com, 27th March 2019

Source: www.out-law.com

Price cap plan to clamp down on high rent-to-own fees – The Guardian

Posted November 22nd, 2018 in consumer credit, consumer protection, fees, financial regulation, interest, news by tracey

‘The City watchdog has proposed a price cap on rent-to-own companies in a clampdown on “excessive charges” expected to save 300,000 vulnerable customers up to £22.7m a year.’

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The Guardian, 22nd November 2018

Source: www.theguardian.com

Equifax fined by ICO over data breach that hit Britons – BBC News

Posted September 20th, 2018 in consumer credit, data protection, fines, news by tracey

‘Credit rating agency Equifax is to be fined £500,000 by the Information Commissioner’s Office (ICO) after it failed to protect the personal data of 15 million Britons.’

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BBC News, 20th September 2018

Source: www.bbc.co.uk

Crackdown on high-interest lending announced by FCA – BBC News

Posted May 31st, 2018 in consumer credit, financial regulation, loans, news by sally

‘The rent-to-own sector faces a price cap similar to limits on payday loans, but the financial regulator will not rush to impose the same restrictions on overdrafts.’

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BBC News, 31st May 2018

Source: www.bbc.co.uk

False promises and penury: still no sign of surrender in the credit hire war – Zenith PI

Posted May 17th, 2018 in appeals, consumer credit, insurance, news, rent by tracey

‘For those with an interest (perhaps in the broadest sense of the word) in credit hire litigation, the long-running war between credit hire organisations (‘CHOs’) and motor insurers continues with a judgment from Mr Justice Turner in the QBD.’

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Zenith PI, 15th May 2018

Source: zenithpi.wordpress.com

Call for stricter rules on doorstep loans – BBC News

Posted March 19th, 2018 in consumer credit, financial regulation, loans, news by sally

‘People who borrow money from doorstep lenders should get the same protection as those with payday loans, a charity has argued.’

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BBC News, 19th March 2018

Source: www.bbc.co.uk

Doorstep lender to return £169m to customers – BBC News

Posted February 27th, 2018 in consumer credit, financial regulation, fines, loans, misrepresentation, news by tracey

‘A division of troubled lender Provident Financial has been told to pay almost £169m in compensation to customers. The Financial Conduct Authority (FCA) said Provident’s Vanquis unit failed to properly disclose charges on one of its popular repayment plans.’

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BBC News, 27th February 2018

Source: www.bbc.co.uk