The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
This week the BBA submitted its response to the Ministry of Justice Claims Management Regulator (CMR)’s consultation of proposed changes to the Conduct of Authorised Persons Rules; the rules that govern Claims Management Companies (CMCs).
The proposed changes are a positive step to clamping down on on-going CMC malpractice. If enforced in their current format, these rules will ensure that CMCs: carry out more thorough pre-complaint checks, adhere to the process and procedures of respective Ombudsmen when submitting a complaint, and, have appropriate safeguards in place to protect vulnerable customers. The BBA will continue to call on the CMR to ensure that these new rules are appropriately enforced and monitored.
Please read the full response below.
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