Supreme Court remits £14bn class action against Mastercard back to Competition Appeal Tribunal for reconsideration of certification

Earlier today the Supreme Court handed down its hotly-anticipated judgment regarding the certification of an opt-out competition collective action brought by Walter Merricks against Mastercard. The claim is seeking £14bn in damages on behalf of some 46.2 million UK consumers, in respect of losses alleged to have resulted from the use of anti-competitive multilateral interchanges fees. Read more

High Court takes a view on repeat borrowing as an indicator of financial health: Kerrigan v Elevate Credit International

A failure to consider the financial difficulties that repeat lending might cause a customer is likely to result in a breach of a consumer credit firm’s statutory obligations under the Consumer Credit Sourcebook (“CONC”) and have an effect subsequently on the fairness of the relationship between a creditor and debtor under the Consumer Credit Act 1974 (“CCA”). Read more