Financial services

NRAM plc v McAdam and others – first instance and Court of Appeal

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The Court of Appeal continue to deliberate on the central issue of s.77A Consumer Credit Act raised in NRAM plc v McAdam and another [2014] EWHC 4174 (Comm). More …

Moving the regulation of second charge lending into the mortgage regime

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The Financial Conduct Authority (FCA) will transfer the regulation of second charge lending from its consumer credit regime to its mortgage regime. This is expected to take place on 21 March 2016. More …

Does a credit broker owe a borrower a fiduciary duty?

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The Court of Appeal have recently clarified the duties owed by credit brokers towards borrowers in the case of McWilliam & McWilliam v. Norton Finance (UK) Limited T/A Norton Finance (in liquidation). More …

Supreme Court hands down judgment in PPI Mis-selling Case

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The Supreme Court has handed down judgment in the case of Plevin v. Paragon Personal Finance Limited [2014] UKSC 61. More …

Director's Liabilities – Fraudulent Misrepresentation

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When things go wrong following the purchase of an asset, particularly a high value asset, it is common to look for someone else to blame. More …

OFT Consumer Credit Licence

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Richard considers the changes recently issued by the OFT to the consumer credit licencing regime. More …

Rebates for consumer credit licence holders

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Richard Humphreys looks at the Government's decision to give some consumer credit licence holders a rebate of their licence fee. More …

The Consumer Credit Sourcebook

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The important message at this stage is that all lenders, brokers, credit intermediaries (and others) need to prepare themselves for 1 April 2013/4. The FCA itself accepts that the time table is "very challenging" so take this as a warning and act now. More …

Are your charging methods compliant with the new law on excessive payment surcharges?

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In light of the Government's concerns relating to payment surcharges in the passenger transport sector, including its more general concerns that traders should be up front and transparent with their prices to allow consumers to accurately compare prices, it decided to implement early the prohibition on excessive payment surcharges set out in the Consumer Rights Directive (the Directive). More …