My Consumer Credit Act Agreement is defective. Can it still be enforced? – Park Square Barristers

Posted March 13th, 2024 in chambers articles, consumer credit, news by sally

As interest rates continue to rise, the impact of recent world events such as Covid, Brexit and the war in Ukraine continue to bite and confirmation last week that the UK has entered a recession, businesses and individuals continue to feel the cost-of-living squeeze. This has had an impact on not only performing obligations under finance agreements, whether they are “regulated” under the Consumer Credit Act 1974 (“CCA”) or “unregulated”, but also the ability of borrowers to obtain further finance to repay and restructure existing borrowing.

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Park Square Barristers, 20th February 2024

Source: www.parksquarebarristers.co.uk

Crucial hearing in Mastercard litigation begins – Law Society’s Gazette

‘The Competition Appeal Tribunal is set to hear arguments today on a complex EU law issue worth billions of pounds in proceedings against credit card providers, Mastercard and Visa.’

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Law Society's Gazette, 24th April 2023

Source: www.lawgazette.co.uk

Owen v Black Horse Limited [2023] EWCA Civ 325 – No Strike Out Despite the Claimant’s Absence at Trial – Pump Court Chambers

‘The Court of Appeal has interpreted the rules for non-attendance on the small claims track in a manner consistent with rule 39.3 in finding that an absent Claimant nevertheless “appeared” at his trial, through his legal representative.’

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Pump Court Chambers, 29th March 2023

Source: www.pumpcourtchambers.com

FCA set to regulate ‘buy now pay later’ payment products in UK – OUT-LAW.com

‘The UK government has published draft legislation which would bring the fast-growing “buy now pay later” (BNPL) industry within Financial Conduct Authority (FCA) regulation and bolster protection for consumers.’

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OUT-LAW.com, 17th February 2023

Source: www.pinsentmasons.com

UK prepares for modernisation of Consumer Credit Act – OUT-LAW.com

Posted June 23rd, 2022 in consultations, consumer credit, financial regulation, news by sally

‘The UK government has committed to the modernisation of its consumer credit regime, and plans to give the Financial Conduct Authority (FCA) more control over the rules that apply to the consumer credit market.’

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OUT-LAW.com, 22nd June 2022

Source: www.pinsentmasons.com

Three million dead can be part of Mastercard action – Law Society’s Gazette

Posted March 10th, 2022 in class actions, consumer credit, domicile, fees, financial regulation, news, ombudsmen by tracey

‘Around three million now-dead people can continue to be part of a mammoth group action against Mastercard after the Competition Appeal Tribunal today ruled that anyone living in the UK when the claim form was filed should be part of the class.’

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Law Society's Gazette, 9th March 2022

Source: www.lawgazette.co.uk

Mastercard fined £31.5m for operating cartel in pre-paid card market – The Independent

Posted January 18th, 2022 in competition, consumer credit, fines, news by tracey

‘Mastercard is among five firms that have been fined £33m by regulators for operating cartels in which they agreed not to poach each others customers for pre-paid cards.’

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The Independent, 18th January 2022

Source: www.independent.co.uk

UK watchdog will not block Provident’s compensation scheme in court – The Guardian

Posted July 15th, 2021 in compensation, consumer credit, financial regulation, loans, news by tracey

‘The UK’s financial watchdog has announced that it will not formally oppose Provident Financial’s plans for its doorstep lending unit in court, even though it has said it does not support its compensation scheme for customers who were mis-sold loans.’

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The Guardian, 14th July 2021

Source: www.theguardian.com

Ep 146: 5 Key Medical Law Updates – Law Pod UK

Posted July 1st, 2021 in chambers articles, consumer credit, medical treatment, news, podcasts by sally

‘Emma-Louise Fenelon speaks to Richard Mumford and Rajkiran Barhey about 5 key developments in medical law.’

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Law Pod UK, 30th June 2021

Source: audioboom.com

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