Archive for the 'consumer credit' Category

Credit and debit card surcharges ‘are excessive’ – BBC News

“A super-complaint is to be launched about the ‘murky practice’ of surcharges levied on customers who pay by debit or credit card.”

Full  story

BBC News, 11th February 2011

Source: www.bbc.co.uk

HSBC Bank Plc v Brophy – WLR Daily

HSBC Bank Plc v Brophy [2011] EWCA Civ 67; [2011] WLR (D) 33

“A clause in a credit card agreement which provided for the bank to determine the credit limit from time to time at its discretion by notifying the debtor of its amount was valid.”

WLR Daily, 3rd February 2011

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Poundworld fined over faulty thermometers – The Independent

“Discount retailer Poundworld has been fined £5,000 for selling dangerously faulty digital thermometers and other medical items, it was announced today.”

Full story

The Independent, 18th November 2010

Source: www.independent.co.uk

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another – WLR Daily

Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Ltd) v Walker and another [2010] UKSC 32; [2010] WLR (D) 175

“A credit broker administration fee and the interest payable on it were properly included in the charge for credit within the meaning of the Credit Consumer Act 1974 and the Consumer Credit (Total Charge for Credit) Regulations 1980, and accordingly, since those items did not form part of the amount of credit as set out in a loan agreement made between parties in 2005, that amount was correctly stated and the agreement was enforceable.”

WLR Daily, 8th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Greater court protection for homeowners: consultation – Ministry of Justice

“A consultation on whether homeowners who have failed to repay consumer credit debts should have accrued a minimum level of debt before a court can order the sale of their home has been released today.”

Full story

Ministry of Justice, 5th February 2010

Source: www.justice.gov.uk

Unsolicited credit card cheques to be banned – The Independent

“The Government will today set out details of its plan to ban lenders from sending out unsolicited credit card cheques to consumers. The Government will today set out details of its plan to ban lenders from sending out unsolicited credit card cheques to consumers.”

Full story

The Independent, 2nd July 2009

Source: www.independent.co.uk

TRM Copy Centres Ltd v Lanwall Services Ltd – Times Law Reports

TRM Copy Centres Ltd v Lanwall Services Ltd

House of Lords

“The essence of hire was that the hirer acquired the use and possession of goods from the provider in return for a rent, whether payable in cash or kind.”

The Times, 24th June 2009

Source: www.timesonline.co.uk

TRM Copy Centres (UK) Ltd and others v Lanwall Services Ltd – WLR Daily

TRM Copy Centres (UK) Ltd and others v Lanwall Services Ltd [2009] UKHL35; [2009] WLR (D) 190

“An agreement between the provider of photocopiers and the retailer in whose premises the photocopiers were located was not a consumer hire agreement within the meaning of s 15 of the Consumer Credit Act 1974 if there was no obligation on the part of the retailer to make any payment in cash or kind for the hire of the photocopiers.”

Source: www.lawreport.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Payment Services Regulations laid before Parliament – OUT-LAW.com

“The regulation of credit and debit cards and other payment services will be tightened in the UK from November. New rules were laid before Parliament yesterday that aim to deliver greater competition in the market for payment services.”

Full story

OUT-LAW.com, 10th February 2009

Source: www.out-law.com

Credit card firms agree fairer terms – The Guardian

“Credit card companies will no longer be able to raise interest rates overnight, and will only be able to implement an increase twice a year, under a new government agreement.”

Full story

The Guardian, 12th December 2008

Source: www.guardian.co.uk

TRM Copy Centres (UK) Ltd and ors v Lanwall Services Ltd – WLR Daily

TRM Copy Centres (UK) Ltd and ors v Lanwall Services Ltd [2008] EWCA Civ 382; [2008] WLR (D) 113

“The practice of placing machines on premises mainly for the use of persons other than the owner of the premises, who was paid a commission on its use, would not generally be a form of bailment by way of hire; it was necessary to look at the essential nature and commercial purpose of the agreement.”

WLR Daily, 17th April 2008

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Licence to lend: Consumer Credit Appeals Tribunals starts operating – Tribunals Service

“A newly created tribunal, set up to ensure credit businesses have a more independent route of appeal against decisions by the Office of Fair Trading (OFT), starts work today, administered by the Tribunals Service.”

Press release (PDF)

Tribunals Service, 7th April 2008

Source: www.tribunals.gov.uk

Small print is ignored and needs a rethink, says Government study – OUT-LAW.com

“Information requirements are an irritant for business and consumers routinely ignore the small print overload because it is turgid and confusing, according to a Government study. A new report calls for a rethink by policy-makers and businesses.”

Full story

OUT-LAW.com, 19th November 2007

Source: www.out-law.com

Office of Fair Trading v Lloyds TSB Bank plc and Others – Times Law Reports

Credit card protection is extra-territorial

Office of Fair Trading v Lloyds TSB Bank plc and Others

House of Lords

“The right of consumers to hold United Kingdom credit card companies liable for a breach of contract by the retailer from whom they made a credit card purchase extended to transactions made overseas.”

The Times, 12th November 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.

The Draft Consumer Credit Appeals Tribunal Rules 2008 – Ministry of Justice

“This consultation seeks views on the draft Consumer Credit Appeals Tribunals Rules 2008, which have been drafted  in line with the Act and current thinking and best practice within the Tribunals Service. The Rules also draw upon the advice set out in the Council on Tribunals’ ‘Guide to Drafting Tribunal Rules’.”

Full story

Ministry of Justice, 5th November 2007

Source: www.justice.gov.uk

Office of Fair Trading v Lloyds TSB Bank plc and others – WLR Daily

Office of Fair Trading v Lloyds TSB Bank plc and others [2007] UKHL 48

“The right of consumers under s 75(1) of the Consumer Credit Act 1974 to hold United Kingdom credit card companies liable for misrepresentation or breach of contract by the retailer from whom they made a credit card purchase extended to transactions made overseas.”

WLR Daily, 1st November 2007

Source: www.lawreports.co.uk

Please note: once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Lords rule that credit card protection applies abroad – The Times

“Consumers who buy faulty goods or services abroad will be entitled to a refund from their credit card company, after a landmark legal judgment yesterday.”

Full story

The Times, 1st November 2007

Source: www.timesonline.co.uk

Rampion and another v Franfinance SA and another – WLR Daily

Rampion and another v Franfinance SA and another (Case C-429/05)

“A consumer’s right under certain conditions, under art 11(2) of Directive 87/102 on consumer credit, to pursue remedies against the provider of finance to him under a credit agreement, applied to a credit facility allowing credit on a number of occasions as well as credit for a single transaction, and the right could not be made conditional on the prior offer of credit naming the goods or services being financed.”

WLR Daily, 4th October 2007

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Lords to rule on overseas credit card protection – OUT-LAW.com

“A forthcoming decision by the House of Lords could seriously dent confidence in cross-border e-commerce. The Lords have been hearing arguments in the case this week.”

Full story

OUT-LAW.com, 5th October 2007

Source: www.out-law.com

TRM Copy Centres (UK) Ltd. and others v. Lanwall Services Ltd. – WLR Daily

TRM Copy Centres (UK) Ltd. and others v. Lanwall Services Ltd.

“It was a necessary precondition of a consumer hire agreement under s 15 of the Consumer Credit Act 1974 that some consideration for the hire was paid by or on behalf of the hirer. Agreements providing for payment to be made only when equipment was used were not consumer hire agreements within s 15.”

WLR Daily, 23rd July 2007

Source: www.lawreports.co.uk

Please note once a case has been reported in one of the ICLR series the following WLR Daily summary is removed.

A million debtors face court action – Daily Telegraph

“Up to a million households struggling with rising living costs and lured by offers of easy credit will face court action over their debts this year.”

Full story

Daily Telegraph, 31st May 2007

Source: www.telegraph.co.uk

Hurstanger Ltd v Wilson and Another – Times Law Reports

Borrower’s informed consent necessary

Hurstanger Ltd. v. Wilson and Another 

Court of Appeal 

“Before Lord Justice Waller, Lord Justice Tuckey and Lord Justice Jacob Judgment April 4, 2007 Where a lender knew that a broker acted on behalf of a borrower and agreed to pay the broker commission, the borrower had to give informed consent.”

The Times, 11th May 2007

Source: www.timesonline.co.uk

Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.


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