Compliance and Credit Risk Management

Delegates will learn

- The historical context of the current consumer lending environment.
- The key features and differences between the 1974 and 2006 Consumer Credit Acts.
- What information must be included within credit advertising, credit agreements and statements to comply with the Consumer Credit Acts.
- What actions are needed to comply with the Consumer Credit Acts 1974 and 2006 in relation to delinquent accounts.
- How to identify what constitutes good practice on data protection issues, as covered by EU directive 95/46/EC and incorporated into the UK Data Protection Act 1998.
- The rights of consumers and the obligations of credit providers under the Distance Selling Regulations 2000.
- The role of industry data sharing agreements. In particular, the limitations on the use of credit reference data that are described by the Standing Committee on Reciprocity (SCOR).
- The processes leading to bankruptcy and IVAs as laid down by the Enterprise Act 2004.
- The role of the OFT within the context of current and recent rulings on the activities of lending institutions.
- What can be expected from new EU consumer credit legislation that is currently under discussion.
- The ethical concerns over the nature of credit-debt relationships.