Westminster Business Forum

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Next steps for consumer credit: regulation, responsible lending, and the future makeup of the retail lending market

October 2021


Price: £95 PLUS VAT
Format: DOWNLOADABLE PDF


This conference discussed the impact of recent reforms on both consumers and lenders and evaluate policy priorities going forward for helping those struggling with persistent debt, as well as for ensuring the availability of options for affordable borrowing.


It was an opportunity for stakeholders and policymakers to consider key issues following the publication of the Woolard Review, which was set up to look at the unsecured credit market and the effect of changes to regulation, as well as the publication of FCA guidance for the fair treatment of vulnerable consumers.


Sessions in the agenda brought out latest thinking on:


  • key findings in the Woolard Review and priorities going forward
  • protecting vulnerable consumers in the wake of the pandemic
  • international best practice in protecting consumers
  • key developments and next steps for the retail lending market
  • priorities for regulation around consumer credit going forward

We were pleased to be able to include keynote contributions from:


  • Christopher Woolard, Partner, EMEIA Financial Services Consulting and Chair, EY Global Regulatory Network, Ernst and Young; and Author, The Woolard Review
  • Nisha Arora, Director, Consumer and Retail Policy Division, FCA
  • Miles Larbey, Head of Financial Consumer Protection, OECD
  • Emma Lovell, Chief Executive, Lending Standards Board
  • Jason Wassell, Chief Executive Officer, CCTA

The impact of the COVID-19 pandemic on household finances - so far and into the future - was also discussed, as well as any mitigations required to address the resulting consumer credit challenges.


Attendees


Our forums are known for attracting strong interest from policymakers and stakeholders. Places had been reserved by officials from BEIS; the Department for International Trade; and HM Treasury. Representatives also attended from the beBettor; BT; Capital One UK; Centaurus Commmuncations; Cifas; Consumer Credit Association; Credit Kudos; Debt Camel; Debt Managers Standards Association; Experian; Fea Card; Financial Services Consumer Panel; FLA; Frontier Economics; Gain Credit; Gowling WLG; Grant Thornton UK; Headland; ICAEW; Ipsos MORI; KPMG; Link Financial Outsourcing; Manchester Metropolitan University; Money and Pensions Service; Non-Standard Finance; Payplan; Registry Trust; Taylor Wessing; The Compliance Company; The Insolvency Service; TotallyMoney; and Wescot Credit Services.
Press passes had been reserved by representatives from MLex and Money Marketing.


This was a full-scale conference that took place online***


  • full, four-hour programme including comfort breaks - you’ll also get a full recording and transcript to refer back to
  • information-rich discussion involving key policymakers and stakeholders
  • conference materials provided in advance, including speaker biographies
  • speakers presenting via webcam, accompanied by slides if they wish, using the Cisco WebEx professional online conference platform (easy for delegates - we’ll provide full details)
  • opportunities for live delegate questions and comments with all speakers
  • a recording of the addresses, all slides cleared by speakers, and further materials are made available to all delegates afterwards as a permanent record of the proceedings
  • delegates are able to add their own written comments and articles following the conference, to be distributed to all attendees and more widely
  • networking too - there will be opportunities for delegates to e-meet and interact - we’ll tell you how!

Full information and guidance on how to take part was sent to delegates before the conference



This pack includes

  • Dropbox video recording of the conference
  • PDF transcript of the discussion, including all speaker remarks and Q&A
  • PDFs of speakers' slide material (subject to permission)
  • PDFs of the delegate pack, including speaker biographies and attendee list
  • PDFs of delegate articles