Nick Baxter

Nick Baxter is an Independent Retail Banking Consultant (focusing on credit risk, compliance and consumer products)”; he has an intimate understanding of financial law and compliance. He was a member of the Mortgage Code Compliance Board (MCCB) Advisory Group and its disciplinary Committee up until the FSA took over in 2004. Nick has also given advice to European Commissioners, lenders, trade associations and consumer groups, in Brussels on the European code of lending practice.

 

Nick's News Articles

Wonga – Government legislation required to protect consumers

September 3, 2018

Now that the payday lender Wonga has confirmed that it has filed for administration and appointed Insolvency Practitioners from Grant Thornton as administrators, the main unresolved issue is the ongoing fair treatment of its customers. The ...

 

FCA: PPI deadline advertising campaign not reaching those that matter?

July 31, 2018

There is just over a year before the Financial Conduct Authority [FCA] Payment Protection Insurance [PPI] complaint deadline comes into force on 29 August 2019. With so little time left to claim it is right that rational analysis of the progress ...

 

Manchester County Court overrides FCA Logic

July 23, 2018

Doran v Paragon Personal Finance The Financial Conduct Authority [FCA] was clear when it issued its final rules and guidance in respect of Payment Protection Insurance [PPI] complaints [policy statement PS17/3] that it did not “seek to usurp the ...

 

FCA rules consultation [CP18/15] for Claims Management Companies

June 13, 2018

FCA – “many CMCs help to secure redress for consumers” The Financial Conduct Authority [FCA] has recently issued a consultation paper [CP18/15] in respect of its draft rules for Claims Management Companies [CMCs]. This consultation sets ...

 

£70bn PPI redress still to repay – an independent survey reveals awareness

April 25, 2018

Much has been written about the Financial Conduct Authority [FCA] Payment Protection Insurance [PPI] complaint deadline since the claim guillotine was announced. The deadline was always short, but the time available to submit a claim is fast ...

 

FOS Complaint Data – A waste of resources, costs, delay and stress!

March 27, 2018

Today the Financial Ombudsman Service [FOS] published its complaint data for the six-month period to 31 December 2017. The data features complaint numbers about banks, insurance companies and other financial businesses received by the ombudsman ...

 

The question @commonstreasury didn’t ask

March 21, 2018

“An elephant in the room”! The fallout from the Channel 4 Dispatches undercover Financial Ombudsman Service [FOS] report is still having far reaching implications which include; suggestions that 500,000 claims will need to be reassessed, ...

 

The FOS – Is it time for a judge-led inquiry?

March 13, 2018

It is not often that a television programme about the financial service industry results in my mobile going into overdrive with messages from non-industry friends. That is, however, what happened during and after the Channel 4 Dispatches ...

 

Commentators and Consumers call for PPI deadline extension

March 5, 2018

Commentators are beginning to suggest that the ‘Arnie’ campaign is failing and the deadline should be extended until the banks have repaid to consumers an agreed total amount (based on comprehensive research into the final bill – likely to be ...

 

FCA PPI deadline – Arnie campaign responsible for increasing bank provisions.

February 27, 2018

The business newspaper City AM ran a story with the headline, “The Terminator delivers £3bn hit to big banks as PPI costs continue to rise”. The headline refers to the Financial Conduct Authority [FCA] PPI deadline awareness campaign that ...

 

FCA PPI deadline – Will consumers be fully compensated?

January 23, 2018

As we approach the 6 month point in the Financial Conduct Authority [FCA] 2 year Payment Protection Insurance [PPI] deadline, it is useful to look back to see if the FCA campaign featuring Arnie Schwarzenegger has made any difference to consumer ...

 

Bank’s PPI provisions were expected to rise – surprise results!

October 31, 2017

Last week saw the major banks announcing their third quarter 2017 results. Many different groups eagerly await these updates; regulators, investors, shareholders and the press. The headlines of the past few years were dominated by the increasing ...

 

FCA PPI Deadline – Nearly half of GB adults are unaware!

October 25, 2017

How will £100bn be repaid in time? Within the financial service world, the Financial Conduct Authority [FCA] Payment Protection Insurance [PPI] claims deadline is big news. It’s not surprising; the decision was subject to a number of ...

 

PPI FOS complaint data shows 5 major firms still over 75%

September 22, 2017

The six-monthly release of the Financial Ombudsman Service [‘FOS’] complaints data have just been issued and this data includes information to the end of June 2017. The information shared by FOS shows that while many firms are improving the way ...

 

Is today the start of the end for PPI claims?

August 29, 2017

Today sees the launch of the Financial Conduct Authority [FCA] two-year marketing campaign which is intended to bring an end to Payment Protection Insurance [PPI] claims by 29 August 2019. The FCA campaign must deliver a lot, but will it? There ...