ILC ARTICLE

CHO looks to future 

24th October 2023

The Credit Hire Organisation (CHO) annual conference 2023 highlighted the changing dynamic of the industry focusing on developments ahead. 

During his introduction, CEO of The CHO, Anthony Hughes described how the sector had witnessed the “perfect storm” in recent times yet “members [of The CHO] had continued to provide mobility to hundreds and thousands of customers”. 

Anthony touched upon ongoing developments with the General Terms of Agreement (GTA2); spoke of the need to remove friction from the sector to improve outcomes; and also pointed towards Consumer Duty’s positive influence on the sector. 

The day included a host of discussion exploring multiple factors influencing the sector including fraud – specifically with reference the The CHO’s new counter fraud platform in partnership with Percayso; consumer behaviour and consumer duty; a claims environment legal and political update; a look at recruitment and training; a board discussion focusing on developments with the GTA2; and a deep dive into the legal sector.  

The nominated charity partner for the day was Dementia UK, with donations during both the daytime and evening events contributing to a fundraising total of £1,354. 

Meanwhile, a delegation of CHO Members met representatives of the Financial Ombudsman Service (FOS) in Canary Wharf on 5 October. The meeting sought to clarify some remarks made by the FOS in a press release issued in July this year. The press release warned consumers about the risks of credit hire. 

The CHO used the meeting to explain the credit hire industry to FOS and requested clarity on the increase in upheld complaints FOS reported. 

Anthony Hughes said, “We welcomed the opportunity to engage with FOS and agreed to maintain a dialogue, planning to meet again in around three months.”