InCredit — January 2014: consumer credit
This month’s round-up of developments affecting the consumer credit industry sees:the Financial Services (Banking Reform) Bill receive Royal Assent; the EU agree a landmark bank deal; recommended changes to the Draft Consumer Rights Bill; and the publication of the Mortgage Credit Directive text.
Contents: consumer credit
- Major changes to Draft Consumer Rights Bill recommended
- FCA updates consumer credit webpage
- FLA calls on FCA to prioritise approach to credit regulation
- New FCA webpage on enforcing its consumer credit regime
- FCA fees and levies update for consumer credit licence holders
- Financial Services and Markets Act 2000 (Consumer Credit) (Transitional Provisions) Order 2013
- LSB publishes revised Lending Code; reports on themed reviews of unarranged overdrafts
- Court of Appeal — unfair relationship cases — S140A Consumer Credit Act 1974
- BIS Committee report on payday loans
- Call to ban payday loan adverts at Commonwealth Games
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.