Merricks v Mastercard Inc

17 April

Yesterday the Court Appeal handed down the latest judgment in an ongoing claim that seeks up to £14bn in damages and interest for UK consumers: Merricks v Mastercard Inc [2019] EWCA Civ 674. The claim relates to certain fees charged by MasterCard prior to July 2008 whenever a customer used their card to make a […]

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‘Pontearso’ Decision on Bridging Loan Interest Rate

11 April

Nugee J has handed down judgment in Greenlands Trading Ltd v Pontearso [2019] EWHC 278 (Ch), on appeal from the decision of HHJ Wulwik that a relationship between a lender and a borrower was not unfair under s 140A of the Consumer Credit Act 1974 . Points that arose were whether a default rate of […]

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Prison sentence for door-to-door fish salesman

11 April

Having been convicted of the consumer protection offence of contravening professional diligence, Peter Carroll, a door-to-door fish salesman, was sentenced on 5 April 2019 by HHJ Crowson at Teesside Crown Court to 12 months’ immediate imprisonment and a 7 year Criminal Behaviour Order preventing him from all unsolicited doorstep selling. The commercial practices of Carroll […]

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April’s PLC Column: Attacks on Level of Interest Rates

09 April

In April’s Practical Law lending column Ruth Bala considers the use of the ‘unfair relationship’ provisions to attack the level of interest rates and the need for the creditor to adduce expert evidence in light of two recent High Court decisions. Read the column here.

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‘Mis-Selling Financial Services’ Published

05 April

Chambers is delighted to announce the Publication of ‘Mis-Selling Financial Services’ by Jonathan Kirk QC, Thomas Samuels and Lee Finch (Edward Elgar Publishing, 2019). This new work offers a clear and concise analysis of the law relating to the mis-selling of financial services products. The introductory chapters cover the history of mis-selling, from their origins […]

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Cameron Crowe appointed to List A of regulatory advocates

01 April

Chambers is delighted to announce that Cameron Crowe has been appointed to List A of the Specialist Regulatory Advocates in Health and Safety and Environmental Law. Cameron’s profile can be viewed here

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Final Report on retained provisions of the CCA

27 March

On 25 March 2019, the Financial Conduct Authority (“FCA”) published its Final Report following its review of the retained provisions of the Consumer Credit Act 1974 (“CCA”). The Final Report follows the Interim Report published in summer last year (see Gough Square News Item on Interim Report) and is closely aligned with the FCA’s position […]

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‘Medsted Associates’: CA Judgment on Secret Commission

11 March

The Court of Appeal handed down its latest judgment on broker secret commissions in Medsted Associates Ltd v Canaccord Genuity Wealth (International) Ltd [2019] EWCA Civ 83. The appellant (‘Medsted’) was a broker who introduced potential investors in contracts for difference to financial institutions such as the respondent (‘Canaccord’). The Court of Appeal upheld the first […]

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Call for evidence on the Consumer Contracts Regulations

08 March

On 7 March 2019, the Department for Business, Energy & Industrial Strategy launched a call for evidence on its review of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 (“the Regulations”). The call for evidence acknowledges that the Regulations a largely derived from the European Consumer Rights Directive and are subject to maximum […]

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FCA publishes final rules on Rent-To-Own price cap

05 March

On 5 March 2019, the Financial Conduct Authority (“FCA”) published its final rules on a price cap for the rent-to-own (“RTO”) market (PS19/6). The rules follow a consultation launched in November 2018 (CP18/35) and introduce a price cap for firms offering household goods on hire-purchase and/or conditional sale. The price cap rules: Limit the total […]

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