Archive for the ‘CPA’ Topic

News: BIS payday loan announcement

Published: 24 May 2012

Responding to the Department for Business, Innovation & Skills announcement on payday loans today, Sarah Brooks, Director of Financial Services at Consumer Focus said: ‘It is welcome that both the Government and the short-term loan industry recognise changes are needed to improve this sector for borrowers. Unfortunately, poor practice has been rife. The measures outlined [...]

Topics: BIS, CPA, debt, Department for Business, financial services, Innovation & Skills, OFT, payday loans.

News: Consumer Focus research shows Continuous Payment Authority confusion

Published: 2 May 2012

New Consumer Focus research shows that banks’ customer service advisers are unclear of the rules around Continuous Payment Authorities (CPA) and could be giving customers incorrect advice as a result. The mystery shopping survey found that almost half of advisers (44%) gave the wrong answer or couldn’t give an answer, when asked how to cancel [...]

Topics: Continuous Payment Authority, CPA, credit card, debit card, financial services.