This page contains a Flash digital edition of a book.
The Analysis News & Opinions


Self-regulation can set new standards for supporting customers in a changing consumer credit world

In launching the Lending Standards Board’s latest Annual Report,

last month,

I was able to reflect on the impact of changes in the regulatory landscape and the consumer credit market on the work of the Lending Standards Board. In recent years, there has been a massive

increase in the use of digital channels and the emergence of a range of new lenders with both traditional and new business models. This pace of change is unlikely to slow. On the regulatory front, the Financial

Conduct Authority (FCA) has introduced a new rule book for consumer credit and brought a more proactive and forward- looking approach to the regulation of the market. These, and other, changes present

challenges but also opportunities for the Lending Standards Board to work closely with the industry to demonstrate how self-regulation can set new standards for supporting customers in a changing world. In terms of the independent review of the

Lending Code, undertaken by Professor Russel Griggs, what is clear from the review is that, if it is to add value going forward, substantial changes will be required to the code, both to address overlap with the new FCA statutory regime and to ensure it reflects how subscribers wish to serve their customers in the future. Work has started on this and, whilst it

will take some months to complete, I believe that it presents us with a real opportunity to build upon the existing code’s firm foundations for the benefit of both subscribers and their customers.

Lord Hunt of Wirral Chairman, The Lending Standards Board

The major national event for the credit and collections industry looked set to be sold-out in advance for yet another year, with over 400 delegates already booked in. As CCR went to press, delegates and sponsors were preparing to gather, in record numbers, at CCR-interactive, in association with Marston Holdings. The industry has, once again, rushed to

support this year’s event in outstanding numbers, as credit professionals continue to value the targeted information and networking opportunities on offer. Stephen Kiely, editor of CCR, said: “It is

always an extremely exciting time as we prepare for CCR-interactive and the Credit Excellence Awards Dinner. So it


wonderful to see that the industry has, yet again, got behind the event in such tremendous numbers. “The event is now in its eighth year and it

is truly remarkable to think that the levels of enthusiasm for the big day seem to grow every year.” Also, as CCR went to press, the judges were holding their final interviews and

Sponsors for the day include:

Affordability Assessment

the centre

teleconferences to decide on the overall winners in the eight categories of the Credit Excellence Awards, in association with Marston Holdings. Shortlists of three finalists in each

category have been published, which highlight the full breadth of the diverse credit and collections industry. Finalists include Shabina Kauser, collector,

HMRC; Ian Williams; Cabot Credit Management; Freedom Finance; Shop Direct Financial Services; April Versace, credit manager, Tucker Company Worldwide; Credit Management Group’s UK Credit Control Team; ICM Consulting and Training; and Kohler EMEA Corporate Credit Services. Also Katie Cotter, collector, HMRC;

NextGear Capital; CreditHQ Ormsby Street; Flint Bishop Solicitors; Mortimer Clarke Solicitors; Severn Trent Water Customer Credit Management – ELIPS Team; Siemens Credit Control Team Manchester; 118118 Money; UK Credit Risk Teams – SIG; and Credit Control Department Veolia ES (UK).

in association with

CCR credit excellence awards2015

in association with

Final preparations for CCR-interactive


part of Echo Managed Services


October 2015

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52