consumer credit – Page 7 – Current Awareness

Court of Appeal gives judgment on credit reference agencies and accuracy of personal data – Panopticon

Posted February 21st, 2013 in appeals, consumer credit, data protection, defamation, loans, news by sally

“The fourth data protection principle requires that ‘personal data shall be accurate and, where necessary, kept up to date’. It does not, however ‘impose an absolute and unqualified obligation on [data controllers] to ensure the entire accuracy of the data they maintain. Questions of reasonableness arise in the application of the fourth principle, as paragraph 7 of Part II of Schedule I spells out.’ This statement by Davis LJ (at para. 80) encapsulates the case of Smeaton v Equifax plc [2013] EWCA Civ 108, in which the Court of Appeal handed down judgment today.”

Panopticon, 20th February 2013

Source: www.panopticonblog.com

What a tangled web… – NearlyLegal

Posted February 18th, 2013 in company directors, consumer credit, loans, news, tribunals, winding up by sally

“Since our post on Barons Finance Limited, we’ve heard various things about the property and landlord related activities of Barons Finance and assorted other companies under the control of Dharam Prakash Gopee. As it appears that Mr Gopee has on at least one occasion continued to pursue proceedings (including appearing in the appeal permission in the last post) for Barons Finance Limited, despite the company having been wound up and a liquidator having been appointed by the Court, we hope this post might be of use for people acting for Defendants in possession proceedings, duty scheme advisers and hopefully members of the judiciary who are unaware of the relevant court decisions and orders.”

NearlyLegal, 17th February 2013

Source: www.nearlylegal.co.uk

Amazon Marketplace purchases not covered by Consumer Credit Act – The Guardian

Posted January 21st, 2013 in consumer credit, consumer protection, electronic commerce, joint liability, news, sale of goods by sally

“If you pay Amazon and it passes the money on to the retailer, a loophole could leave you without redress.”

The Guardian, 19th January 2013

Source: www.guardian.co.uk

Payday loan firms warned over lending and debt collection – BBC News

Posted November 20th, 2012 in consumer credit, consumer protection, debts, news, reports by sally

“The payday loan industry has been warned to improve the way it lends money and collects debts, or face sanctions.”

BBC News, 20th November 2012

Source: www.bbc.co.uk

OFT sets out details of its new power to suspend consumer credit licenses – OUT-LAW.com

Posted October 26th, 2012 in bills, consultations, consumer credit, consumer protection, licensing, news by tracey

“Consumer watchdog the Office of Fair Trading (OFT) has set out details of how it intends to use a new power which will allow it to suspend the licenses of rogue lenders with immediate effect in some circumstances.”

OUT-LAW.com, 24th October 2012

Source: www.out-law.com

Link Financial Ltd v Jones – WLR Daily

Posted August 24th, 2012 in assignment, consumer credit, debts, law reports by sally

Link Financial Ltd v Jones [2012] EWHC 2402 (QB); [2012] WLR (D) 251

“A legal assignee of the debt due under a regulated consumer credit agreement which had given notice of the assignment to the debtor was a “creditor” within the meaning of section 189 of the Consumer Credit Act 1974 and entitled to bring proceedings to recover the debt.”

WLR Daily, 22nd August 2012

Source: www.iclr.co.uk

OFT to get immediate powers to close rogue lenders – The Guardian

Posted July 20th, 2012 in consumer credit, consumer protection, news by tracey

“The Office of Fair Trading will be able to clamp down on rogue companies by suspending or revoking their consumer credit licences with immediate effect under new legislation announced by the government.”

The Guardian, 19th July 2012

Source: www.guardian.co.uk

Credit firm fined £150k after losing personal data of half a million customers – OUT-LAW.com

Posted July 6th, 2012 in consumer credit, data protection, fines, news by tracey

“A consumer lending firm has been fined £150,000 by the Information Commissioner’s Office (ICO) after it lost personal data belonging to more than half a million customers.”

OUT-LAW.com, 5th July 2012

Source: www.out-law.com

OFT pulls the plug on Yes Loans – The Guardian

Posted March 9th, 2012 in consumer credit, consumer protection, loans, news by tracey

“The Office of Fair Trading is revoking the consumer credit licence of one of the UK’s largest unsecured credit brokers for ‘deceitful and oppressive business practices’. If successful, it will put payday loans broker Yes Loans out of business – but the firm has 28 days to appeal and can continue arranging new loans in that time due to limitations in consumer credit regulations.”

The Guardian, 8th March 2012

Source: www.guardian.co.uk

Call for tighter controls on payday lenders – The Guardian

Posted March 7th, 2012 in consumer credit, debts, financial regulation, loans, news by sally

“Payday lenders should be forced to limit the rolling over of loans, stop allowing customers to switch from one lender to another, and to share information about their customers with other lenders, the business, innovation and skills committee has recommended.”

The Guardian, 7th March 2012

Source: www.guardian.co.uk

Payday loan firms to be investigated by OFT – The Guardian

Posted February 24th, 2012 in consumer credit, consumer protection, loans, news by tracey

“Payday loan companies will come under fresh scrutiny after the Office of Fair Trading (OFT) launched a review of the sector amid concerns some lenders are taking advantage of people in financial difficulty.”

The Guardian, 24th February 2012

Source: www.guardian.co.uk

Office of Fair Trading takes steps to shut Yes Loans – BBC News

Posted October 31st, 2011 in complaints, consumer credit, consumer protection, loans, news by sally

“The Office of Fair Trading (OFT) is taking steps to close down a company which claims to process thousands of loan applications a week.”

BBC News, 29th October 2011

Source: www.bbc.co.uk

Companies that fall below card payment standards risk being fined, ICO says – OUT-LAW.com

Posted August 11th, 2011 in consumer credit, data protection, fines, news by sally

“Businesses that fall short of set standards for ensuring the security of credit card data could be fined, the UK’s data protection watchdog said.”

OUT-LAW.com, 11th August 2011

Source: www.out-law.com

Airlines risk legal action over credit card ‘sting’ – The Independent

Posted June 29th, 2011 in airlines, consumer credit, fees, news, theatre, unfair commercial practices by sally

“Budget airlines, theatres and football clubs risk legal action if they continue to levy inflated charges for paying by credit and debit cards, the Office of Fair Trading (OFT) warned yesterday.”

The Independent, 29th June 2011

Source: www.independent.co.uk

Credit and debit card surcharges ‘are excessive’ – BBC News

Posted February 11th, 2011 in banking, complaints, consumer credit, consumer protection, news by sally

“A super-complaint is to be launched about the ‘murky practice’ of surcharges levied on customers who pay by debit or credit card.”

BBC News, 11th February 2011

Source: www.bbc.co.uk

HSBC Bank Plc v Brophy – WLR Daily

Posted February 4th, 2011 in consumer credit, law reports by sally

HSBC Bank Plc v Brophy [2011] EWCA Civ 67; [2011] WLR (D) 33

“A clause in a credit card agreement which provided for the bank to determine the credit limit from time to time at its discretion by notifying the debtor of its amount was valid.”

WLR Daily, 3rd February 2011

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Poundworld fined over faulty thermometers – The Independent

Posted November 19th, 2010 in consumer credit, news, sale of goods by sally

“Discount retailer Poundworld has been fined £5,000 for selling dangerously faulty digital thermometers and other medical items, it was announced today.”

The Independent, 18th November 2010

Source: www.independent.co.uk

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another – WLR Daily

Posted July 9th, 2010 in consumer credit, interest, law reports, Supreme Court by sally

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another [2010] UKSC 32; [2010] WLR (D) 175

“A credit broker administration fee and the interest payable on it were properly included in the charge for credit within the meaning of the Credit Consumer Act 1974 and the Consumer Credit (Total Charge for Credit) Regulations 1980, and accordingly, since those items did not form part of the amount of credit as set out in a loan agreement made between parties in 2005, that amount was correctly stated and the agreement was enforceable.”

WLR Daily, 8th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Greater court protection for homeowners: consultation – Ministry of Justice

Posted February 5th, 2010 in charging orders, consultations, consumer credit, debts, housing, Ministry of Justice, news by sally

“A consultation on whether homeowners who have failed to repay consumer credit debts should have accrued a minimum level of debt before a court can order the sale of their home has been released today.”

Ministry of Justice, 5th February 2010

Source: www.justice.gov.uk

Unsolicited credit card cheques to be banned – The Independent

Posted July 2nd, 2009 in consumer credit, consumer protection, news by sally

“The Government will today set out details of its plan to ban lenders from sending out unsolicited credit card cheques to consumers. The Government will today set out details of its plan to ban lenders from sending out unsolicited credit card cheques to consumers.”

The Independent, 2nd July 2009

Source: www.independent.co.uk

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