From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

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Labour's National Policy Forum consults on key priorities

Week in Westminster

Published: 24 March 2017 | Author: Michelle Vosper

Labour’s National Policy Forum, responsible for developing Labour policy, has published eight new consultation documents on key priorities. These include consultations on housing, local government and transport; the economy, business and trade. Submissions are invited by 31 May and will be considered at the National Policy Forum’s summer meeting in July.

The European Commission published their action plan on consumer financial services. The action plan addresses a number of issues, such as FinTech and consumer protection rules. It follows on from the European Parliament’s own-initiative green paper on retail financial services, which passed in the Economic and Monetary Affairs Committee in November 2016. The action plan has twelve, primarily non-legislative, initiatives including:

  • easier financial product switching
  • improved price comparison websites
  • introduction of common credit worthiness assessment standards
  • identifying actions required for the future development of FinTech
  • better monitoring of the distance selling market, identifying future risks.

Meanwhile, the UK government confirmed its intention to trigger Article 50 on Wednesday 29 March. In doing so, ministers will begin the formal process required for the UK to leave the European Union.