‘One quarter of payday lenders may pull out of the market under pressure from new regulations. The Financial Conduct Authority (FCA) is to investigate the way they treat borrowers struggling to repay loans. It has said the review will be one of its first actions when it takes over regulation of the consumer credit sector on 1 April.’
BBC News. 12th March 2014
Source: www.bbc.co.uk
‘Innocent car buyers can lose their vehicles under ‘bills of sale’ rules dating back to the Victorian era.’
The Guardian, 16th February 2014
Source: www.guardian.co.uk
‘Sixty victims of loan sharks are in witness protection, according to the country’s leading official tasked with breaking the cycle of fear, intimidation and violence trapping families who have borrowed money from illegal lenders.’
The Guardian, 24th January 2014
Source: www.guardian.co.uk
‘When it comes to securing a training contract, it’s often not what you know but who you know that matters.’
The Guardian, 21st January 2014
Source: www.guardian.co.uk
‘Many payday lenders could be breaking the law by charging excessive default fees to borrowers who miss repayments, according to Which? An investigation by the consumer group revealed that 10 of 17 leading payday lenders have default fees of £20 or more, and four charged £25 and above, with Wonga topping the table at £30.’
The Independent, 13th January 2014
Source: www.independent.co.uk
‘A man has been jailed for nearly four years for his part in a phishing scam that targeted UK students to steal in excess of £1.5m.’
The Guardian, 14th December 2013
Source: www.guardian.co.uk
‘The Government will introduce legislation to cap the cost of payday loans to borrowers, the Chancellor of the Exchequer has announced.’
OUT-LAW.com, 27th November 2013
Source: www.out-law.com
‘George Osborne said the cap on the overall cost of credit was the next logical step as the coalition sought to regulate what had been a wholly unregulated market.’
The Guardian, 25th November 2013
Source: www.guardian.co.uk
‘A father and son convicted of illegal money lending have been ordered to pay back more than £300,000 in assets.’
Local Government Lawyer, 25th November 2013
Source: www.localgovernmentlawyer.co.uk
“Three Manchester loan sharks who charged vulnerable people 100% interest and menaced them by mobile phone have been jailed.”
BBC News, 24th September 2013
Source: www.bbc.co.uk
“The High Court has found that liquidators under a voluntary liquidation are not data controllers for the purposes of the Data Protection Act 1998 (“DPA” or “Act”) and so are not personally responsible for compliance with the Act.”
Technology Law Update, 2nd September 2013
Source: www.technology-law-blog.co.uk
“Joint liquidators of a company were not data controllers within the meaning of section 1(1) of the Data Protection Act 1998 in respect of data processed by the company prior to its liquidation.”
WLR Daily, 8th August 2013
Source: www.iclr.co.uk
“Almost a third of the payday lenders ordered to clean up their practices have opted to withdraw from the industry, the Office of Fair Trading has revealed, as the deadline for firms to respond passed.”
The Guardian, 30th July 2013
Source: www.guardian.co.uk
JSC BTA Bank v Ablyazov (No 10) [2013] EWCA Civ 928; [2013] WLR (D) 305
“In determining the meaning of the term ‘assets’ in a freezing order, account should be taken, as part of the background and context of such orders, of their purpose, in the way that anyone construing any document should take account of the background of it. Where the words used clearly and unequivocally led to the conclusion that the term ‘asset’ included that which could not be the subject of execution, effect must be given to the words. Where they did not, the purpose of such orders would be a significant factor in determining the meaning of the term ‘asset’ in that context and a pointer against including the particular right under consideration.”
WLR Daily, 25th July 2013
Source: www.iclr.co.uk
“A woman has won a case of harassment against her bank after she was plagued by more than 500 calls for missing a single loan payment.”
Daily Telegraph, 8th July 2013
Source: www.telegraph.co.uk
The Daily Telegraph have recently introduced a limited paywall. Users will be permitted to view 20 Daily Telegraph articles per month for free, after which they will need to pay a subscription fee to access content.
“The Office of Fair Trading (OFT) has referred the payday lending industry to the Competition Commission because of concerns about ‘deep-rooted problems with the way competition works’.”
BBC News, 27th June 2013
Source: www.bbc.co.uk
“The Advertising Standards Authority has banned a payday lender for sending text messages that encouraged people to borrow £1,000 for a night out.”
Daily Telegraph, 19th June 2013
Source: www.telegraph.co.uk
“In Jeffrey Jones v SoS for Energy and Climate Change [2012] EWHC 2936 (QB) the High Court considered the use of credit agreements between a law firm and its clients.”
New Law Journal, 13th May 2013
Source: www.newlawjournal.co.uk
“A TV campaign fronted by former bankrupt Kerry Katona offering payday loans with the strapline ‘fast cash for fast lives’ has been banned for being irresponsible.”
The Guardian, 8th May 2013
Source: www.guardian.co.uk
“The government is facing the threat of a judicial review into its handling of an investigation into Barclays’ involvement in a state-backed loan scheme.”
The Guardian, 10th April 2013
Source: www.guardian.co.uk
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