InCredit — February 2014: consumer credit
This month’s round-up of developments affecting the consumer credit industry sees an announcement on the progress of the Consumer Rights Bill; the European Commission announce its plans for structural reform of the EU banking sector; and the EC adopt the Mortgage Credit Directive.
Contents: consumer credit
- Consumer Rights Bill progress
- BSA and FLA response to FCA CP13/10 on consumer credit regime
- High Cost Credit Bill — provisional sitting for second reading debate
- Draft SI’s relating to transfer of consumer credit regime published
- DECC additional response to consultation on definition of ‘debtor’ in s189 of the CCA 1974 for Green Deal
- Payday loans ‘fund cost of housing’
- FLA publishes November lending figures
- FCA publishes new consumer credit webpages
- UK Statutory Instrument: the Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Commencement No. 2) Order 2014 (30 January 2014)
- EU Council on SEPA amendments
Click on the link below to read the rest of the Addleshaw Goddard briefing.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
InCredit March 2014 — mortgages: Mortgage Credit Directive text published in OJEU; FCA publishes findings to MCOB survey; and more
The text of the Mortgage Credit Directive (MCD) (2014/17/EU) has been published in the Official Journal of the EU.
According to a company press release, Paragon Bank has become the first new bank to obtain a banking licence from the PRA.
Analysis from The Lawyer
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?
The past five years have not been easy for Addleshaw Goddard. The firm’s revenue fell 7 per cent from £173.1m to £161.9m between 2008/09 and 2010/11 and despite finances looking up in 2011/12, when Addleshaws reported a 30 per cent increase in net profit, it has shown no notable compound growth in turnover since 2007/08.