Consumer Credit Trade Association (CCTA)

As one of the earliest trade associations recorded in history, they have been in operation since 1891, but obviously payday loans only become part of their members’ products and services, within the last few years.

Their website mentions their lobbying activities strenuously where they aim to take the weight off changes in legislation on behalf of their members.

Members are involved with businesses that transact consumer credit, but they failed to mention payday loans specifically on the website, apart from a few minor news items, which is found within all of the consumer credit news information.

There is no specific list of members, so a consumer cannot confirm whether a payday loan lender is a member or not, but the website doesn’t list the address and telephone number of the trade association and you can leave a message on the contact us website page and request an email response.

In contact with the press and media, this trade association will be pleased to offer comment about payday loans, but it is not clear from the website whether any payday loan businesses are part of the CCTA.

The handy industry links page can direct consumers to the Financial Conduct Authority as well as the ICO and the Advertising Standards Authority. Fortunately, it does suggest a number of consumer organisations which provide general information about payday loans as well as the usual favourite national debt advice websites.

Whatever CCTa’s opinion is about payday loans, it is difficult, or almost impossible to get a viewpoint from anything written on the website.

We would be pleased to hear from the association so that we can correct, update or confirm details about how payday loans are affected by this trade association.

http://www.ccta.co.uk/index.aspx

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Writen By:

Jim Cook

Jim cook has been in the financial sector for over 10 years. Specialising in the payday loan sector.

Published in Law & Regulation

Data Protection Reg No: Z3508710 - Consumer Credit License Number: 655622