‘A payday loans company has been fined £175,000 by the Information Commissioner’s
Office (ICO) after the watchdog found it to be in serious breach of UK privacy
laws.’
OUT-LAW.com, 17th December 2013
Source: www.out-law.com
‘For the purposes of section 106(d) of the Consumer Act 1974 the words “realisation of the security” should be interpreted conventionally so as to achieve the policy objective stated in section 113(1) that the security provided in relation to a regulated agreement could not be enforced so as to benefit the creditor to any greater extent than would be the case if the security were not provided. In the case of a secured loan to which section 106(d) applied, its provisions did not catch all sums paid by the debtor in discharge of the loan.’
WLR Daily, 17th December 2013
Source: www.iclr.co.uk
‘The Government will introduce legislation to cap the cost of payday loans to borrowers, the Chancellor of the Exchequer has announced.’
OUT-LAW.com, 27th November 2013
Source: www.out-law.com
Dixons Retail plc v Revenue and Customs Commissioners: (Case C-494/12); [2013] WLR (D) 448
‘Pursuant to articles 2(1), 5(1) and 11A(1)(a) of Sixth Council Directive 77/388/EEC and articles 2(1)(a), 14(1) and 73 of Council Directive 2006/112/EC, the physical transfer of goods to a purchaser who had fraudulently used a bank card as a means of payment constituted a “supply of goods” within the meaning of articles 2(1) and 5(1) of Directive 77/388 and articles 2(1)(a) and 14(1) of Directive 2006/112 and, in the context of such a transfer, the payment made by a third party, under an agreement concluded between it and the supplier of those goods by which the third party undertook to pay the supplier for the goods sold by the latter to purchasers using such a card as a means of payment, constituted “consideration” within the meaning of article 11A(1)(a) of Directive 77/388 and article 73 of Directive 2006/112.’
WLR Daily, 21st November 2013
Source: www.iclr.co.uk
“ASA says ad by payday lender Wonga gave impression that taking out a high-interest loan could be done lightly.”
The Guardian, 9th October 2013
Source: www.guardian.co.uk
“Payday lenders will be forced to make tougher affordability checks under a crackdown by the City regulator that could stop borrowers being given loans within minutes of applying.”
The Guardian, 3rd October 2013
Source: www.guardian.co.uk
“The City regulator is expected to announce a crackdown on advertising by payday lenders and the way the firms collect and extend loans when it announces new rules for the sector on Thursday morning.”
The Guardian, 2nd October 2013
Source: www.guardian.co.uk
“Around 7 million people are set to share up to £1.3bn in compensation after 13 high street banks and credit card companies agreed to offer redress for mis-sold credit card and identity theft protection.”
The Guardian, 22nd August 2013
Source: www.guardian.co.uk
“Around 1,000 holidaymakers will share a total pot of £5m from First Choice, Thomas Cook and My Travel after a “holiday from hell” court case concluded.”
Daily Telegraph, 18th July 2013
Source: www.telegraph.co.uk
“A crackdown on payday loan advertising is on the cards following a summit between regulators, ministers and lenders to address concerns over widespread problems in the sector.”
The Guardian, 1st July 2013
Source: www.guardian.co.uk
“The absence of legal representation for defendants to an action for debt who contended they could not speak English resulted in the High Court granting an application that the trial be adjourned for a second time. The judgment is a good example of the interaction of Article 6 ECHR (right to a fair trial) with the Civil Procedure Rules (CPR).”
UK Human Rights Blog, 26th June 2013
Source: www.ukhumanrightsblog.com
“The Office of Fair Trading (OFT) has referred the payday lending industry to the Competition Commission because of concerns about ‘deep-rooted problems with the way competition works’.”
BBC News, 27th June 2013
Source: www.bbc.co.uk
“Law firms must not allow arrangements with debt recovery companies to compromise their independence, the Solicitors Regulation Authority (SRA) has warned, after two solicitors were fined heavily for allowing litigation to be carried out in their name.”
Legal Futures, 17th June 2013
Source: www.legalfutures.co.uk
“In Jeffrey Jones v SoS for Energy and Climate Change [2012] EWHC 2936 (QB) the High Court considered the use of credit agreements between a law firm and its clients.”
New Law Journal, 13th May 2013
Source: www.newlawjournal.co.uk
“A ban that comes into force on Saturday will ensure that payment surcharges reflect the actual cost of processing the payment.”
The Guardian, 6th April 2013
Source: www.guardian.co.uk
“The Government has issued guidance that sets out the kind of costs businesses incur that they are legitimately able to claim back through payment surcharging under new rules set to come into force this weekend.”
OUT-LAW.com, 5th April 2013
Source: www.out-law.com
“Payday lender MCO Capital has been shut down by the Office of Fair Trading, after it failed to stop fraudsters taking out loans using more than 7,000 stolen identities.”
The Guardian, 19th March 2013
Source: www.guardian.co.uk
VFS Financial Services Ltd v JF Plant Tyres Ltd: [2013] EWHC 346 (QB); [2013] WLR (D) 91
“A ‘disposition’ of goods for the purposes of section 29(1) of the Hire-Purchase Act 1964 was limited to a transaction where the goods had been transferred for money.”
WLR Daily, 26th February 2013
Source: www.iclr.co.uk
“Ministers are to announce a clampdown on adverts for payday loans, but have rejected a cap on the cost of loans despite a report due to be published on Wednesday from the Office of Fair Trading showing widespread malpractice across the controversial industry.”
The Guardian, 6th March 2013
Source: www.guardian.co.uk
Santander UK plc v Harrison and another [2013] EWHC 199 (QB); [2013] WLR (D) 67
“The rescheduling of a mortgage agreement did not amount to providing credit ‘in the form of a cash loan’ for the purposes of article 4(1) of the Consumer Credit Act 2006 (Commencement No 4 and Transitional Provisions) Order 2008.”
WLR Daily, 7th February 2013
Source: www.iclr.co.uk
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