Legal issues for the UK consumer finance industry
On 23 January 2020, the UK Payment Systems Regulator published a speech by its managing director, Chris Helmsley, on a number of topics including authorised push payment fraud.
Mr Helmsley sets out his initial views (having been in his role 100 days) on topics including preventing APP fraud and the allocation of responsibility for meeting successful claims.
On 28 November 2019, UK Finance published a press release saying seven payment services firms have agreed to extend the period of interim funding for the reimbursement of authorised push payment victims in a ‘no blame’ situation. The interim funding period is now expected to last until at least 31 March 2020 to allow further proposals and discussions to take place.