CCR Magazine

You are here  :Home arrow News arrow StepChange Debt Charity response to FCA/Cash Genie announcement
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


StepChange Debt Charity response to FCA/Cash Genie announcement PDF Print E-mail
Monday, 27 July 2015

In response to today’s Financial Conduct Authority (FCA) announcement concerning a £20m redress scheme for more than 92,000 customers of the payday lender Cash Genie, Francis McGee, Director of External Affairs at StepChange Debt Charity, said:

“It has been well established that unfair practices were widespread in the payday loan industry. Today’s news that tens of thousands who were on the receiving end of unscrupulous behaviour will be compensated is extremely welcome.

“We are confident that payday loan reforms put in place by the FCA are starting to take effect and we are finally beginning to see a drop in the number of our clients struggling with this type of debt. However, there is still work to do. We need better alternatives to these types of potentially harmful credit products, and crucially we need better protections for people in debt. The government has promised a review of proposals to give ‘breathing space’ to those in financial difficulty and we look forward to hearing details of that review.”

(Source - StepChange Debt Charity Press Release)


 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197