Our news stories can be in the form of e-shots, ‘white papers’ or social media commentary, but we will not comment on trivial matters – you will not see us mentioning on what type of coffee we are drinking whilst waiting for a train! You can catch up on our previous commentaries below.
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GAP insurers now under the spotlight
The motor finance world is feeling the regulatory heat right now. As previously reported and commented on, PCP plans have been heavily scrutinised, with hidden commissions being at the top…
Motor finance challenges
This is not the first time car finance arrangements have been the subject of one of our updates. Less than 6 months ago we said, “three motor finance firms are…
Spotlight on directors
We are only a couple of weeks into 2024 and the year is already throwing up governance, risk and compliance challenges for individual directors and senior managers.
A challenging year
As we rapidly approach the end of what has been a challenging year for everyone involved in the financial services market, we continue to support our clients as they manage…
Consumer Duty – can you defend your position?
When our prudential regulator calls out a potential conduct issue, while at the same time deferring to the conduct regulator, we should all recognise a problem is brewing!
Later Life lending – regulatory update
The FCA published the results of its multi-firm work on later life mortgage advertising and advice, which can be summarised as “action is needed to ensure good outcomes for later…
Managing risk in loan portfolios
As risk consultants, with people that have lived through numerous previous recessions, we recognise the cyclical nature of the economy and the need to be prepared for whatever is thrown…
Car finance firms face legal threat
The phrase ‘that’s the tip of the iceberg’ is often overused, but not in the case of three motor finance firms facing a class action in respect of overcharging claims. …
Stress tests should apply to all lenders!
The Bank of England recently announced that the major UK banks would be resilient to a severe stress scenario. Re-assuring news, especially considering that their stress scenario was more severe…
FCA clampdown – a firm warning!
The FCA recently published its 2022/2023 annual report. Within the 200+ pages, there are many ‘golden nuggets’ of advice for existing authorised firms and individuals as well as those aspiring…
Mortgage Charter ’breathing space’ gives lenders a headache
No one working in our industry will have missed the much publicised ‘Mortgage Charter’ agreed by members of UK Finance with the Government. Many of the provisions are not new…
ESG –the need for independent due diligence until regulation catches up!
Earlier this month our Group Chief Executive and Founder, Brian Pitt, led a panel debate discussing transparency and greenwashing in ESG at the Global ABS conference in Barcelona. The debate…
Breaking news: Lender forced to half its interest rate
Mortgage regulation has developed over the past 20 years. Previously there was a focus on conduct matters, where senior managers were expected to ‘do the right thing’ in terms of…
Lending standards, vulnerability and 3 lines of defence
The fair treatment of vulnerable consumers has been high on the FCA agenda for several years as these consumers are at greater risk of financial harm. Recent FCA guidance has…
Complaints – root cause analysis
You cannot open a consumer supplement of any newspaper today without seeing predictions of the next ‘mis-selling scandal.’ Since the PPI tsunami receded, commentators have suggested numerous products that the…
Later life lending – compliance challenges
The Equity Release Council [ERC] recently launched an independent report titled ‘Later Life Lending: Great Expectations’. Constructively, the report recognises the historic problems of equity release, acknowledging that products such…
