20 January 2016 
Matt Sisson, Projects and Membership Manager
BUFDG recently engaged Shakespeare Martineau LLP to help clarify concerns and uncertainty that many institutions have had around the various aspects of consumer credit. The produced advice is now available, and takes the form of an advice note, along with a Q&A document that specifically addresses institutions' questions. We’ve combined these two documents into a single PDF (Q&A at the end), which is available to download from the BUFDG website (login required).
Shakespeare Martineau have also been retained for three months to answer further queries arising from the notes and any further new issues raised by members. Please send any queries to Karel who will then forward these on accordingly. A weekly update of answers will be provided on the BUFDG website.
Please remember that this information and advice may not be suitable for particular circumstances in your institution and you may need to seek additional advice based on specific facts. However, we hope that this provides the majority of institutions with answers to the most common problems.
After the end of March 2016, Shakespeare Martineau will update both documents following any changes in legislation or case law. Any specific questions raised by members after this time will be considered and if it is felt that the answers could be useful to the wider membership, we will consider reengagement of lawyers.
