On 9 December 2014 the APPG held an oral evidence session of the Group’s inquiry into the Rent to Own sector. MPs heard evidence from: Financial Conduct Authority; BrightHouse, PerfectHome and Buy As You View; Thrive, the Centre for Responsible Credit and RTO social enterprise, FairForYou. Read the full evidence session transcript.
On 24 November 2014 the APPG held a meeting with with The Children’s Society to explore the impact of household debt on children and rally support for amendments to the Consumer Rights Bill that would restrict payday loan advertising targeted at children and introduce a ban on the unsolicited marketing of payday loans.
On 17 June 2014 the APPG held a joint meeting with the Fuel Poverty and Energy Efficiency APPG to discuss how well the energy market works for vulnerable consumers.
Marilyn Price of Stratford-upon-Avon CAB spoke first. She explained PPM users pay higher energy prices and often endure the loss of energy supply. Many feel the information suppliers provide on fuel costs was poor, making it difficult to manage money well. Continue reading
On 13 May 2014 the APPG held a joint meeting with the Mental Health APPG on debt and mental health as part of Mental Health Awareness Week 2014.
MoneySavingExpert.com’s Martin Lewis opened by urging lenders not to disenfranchise those with mental health problems. He said borrowers need the option to constrain their credit use during periods of acute symptoms. This includes an automatic card block in response to unusual spending patterns – which a trusted friend could then unlock. Continue reading
On 5 March 2014 a breakfast meeting was held to discuss the fallout from the PPI mis-selling scandal and the lessons to be learned.
Yvonne Fovargue MP chaired the meeting, inviting panellists to respond to a new report from Citizens Advice on claims management companies and the costs of redress. Continue reading
On 19 November 2013, the APPG on Debt and Personal Finance held a joint meeting with StepChange Debt Charity to discuss the Financial Conduct Authority’s proposals for regulating the payday lending sector.
The meeting provided MPs and members of the Group the chance to question the FCA directly on its proposals and feed in to its consultation. Continue reading
On 18 June 2013, the APPG on Debt and Personal Finance met to discuss the transfer of consumer credit regulation from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) due in April 2014. Continue reading
On 13 March 2013, the APPG on Debt and Personal Finance met to discuss the forthcoming Consumer Rights Bill.
Speakers welcomed the Bill which aims to simplify and consolidate key consumer rights covering contracts for goods, services, digital content and the law relating to unfair terms in consumer contracts. Continue reading
On 29 January the APPG on Debt and Personal Finance discussed regulation of the bailiff industry, hearing from consumer groups and trade associations.
Dr Steven Everson, from the Civil Enforcement Association, said that profit was not a “dirty word” in the sector even when the only source of income was from the debtor. Proposals from the MOJ would result in a clearer, less complicated system. Continue reading
On 11 July 2012 the APPG on Debt and Personal Finance hosted a breakfast seminar to launch a new report from Citizens Advice called Access to Cash – Don’t Bank on It.
Director of Policy and Advocacy at Citizens Advice, Teresa Perchard, argued that after a decade of progress, with the development of a free cash machine network and basic bank account provision, the situation was now in reverse.