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Portrait of Bill McCaffrey

Bill McCaffrey

Head of Consumer Credit

CMS Cameron McKenna Nabarro Olswang LLP
Cannon Place
78 Cannon Street
United Kingdom
Languages English

Bill McCaffrey is a partner in the Financial Services and Products team and Head of its Consumer Credit practice.

Consistently top ranked in the Chambers UK legal directory, he is singled out for his in-depth understanding of the market.

He focuses on legal and regulatory issues relating to secured and unsecured loans, instalment credit, leasing, asset finance, payment services and electronic money.

Bill joined CMS from Salans where he was a partner for 7 years. Before that he spent 14 years as a senior in house lawyer at Abbey National plc, First National Bank plc and Wagon Finance Limited.

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"Bill provides knowledgeable, practical advice."

Chambers, 2023

"He possesses a high-level expertise in consumer credit."

Chambers, 2023

"He is pragmatic, commercial, experienced and clearly an expert in his field."

Chambers, 2023

Relevant experience

  • Creditors and lessors on documentation and procedures for credit and hire products.
  • Credit agreements, statutory statements and notices.
  • Lenders and lessors on finance advertising.
  • Payment Services Regulations including obtaining authorisation and passporting.
  • Electronic Money Regulations including authorisation and passporting.
  • Asset portfolio acquisitions and sales.
  • Lender and lessor trading agreements with suppliers and intermediaries.
  • Account terms and conditions.
  • Block discounting, factoring and invoice discounting agreements.
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  • Bill is consulting editor for Halsbury’s Laws of England: Consumer Credit 
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  • 1986 – LLB, Strathclyde University, Glasgow
  • 1987 – Law Honours, Strathclyde University, Glasgow
  • 1988 – Dip LP, Strathclyde University, Glasgow
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Over­sight of Ap­poin­ted Rep­res­ent­at­ives
The Fin­an­cial Con­duct Au­thor­ity (“FCA”) has pub­lished new rules to im­prove over­sight over ap­poin­ted rep­res­ent­at­ives (“ARs”), which will take ef­fect on 8 Decem­ber 2022. These new rules are in­ten­ded...
Lenders told to sup­port con­sumers strug­gling with the cost of liv­ing
The FCA has sought to ad­dress the im­pact of the rising cost of liv­ing on con­sumers by writ­ing to Chief Ex­ec­ut­ives of over 3,500 lenders re­mind­ing them of the stand­ards they are ex­pec­ted to up­hold (the...
Con­sumer Cred­it Act to be re­formed
The Gov­ern­ment has an­nounced that it is com­mit­ting to re­form the Con­sumer Cred­it Act 1974 (“CCA”), which reg­u­lates lend­ing, in­clud­ing cred­it cards and per­son­al loans. This re­form is part of a drive...
Reg­u­la­tion of Buy-Now Pay-Later products fast ap­proach­ing
HM Treas­ury has pub­lished the highly an­ti­cip­ated con­sulta­tion pa­per (“CP”) set­ting out policy op­tions to achieve a pro­por­tion­ate ap­proach to reg­u­la­tion of buy-now-pay-later (“BN­PL”) products...
Con­sumer cred­it in­form­a­tion sheets up­dated by FCA
The FCA has pub­lished re­vised con­sumer cred­it in­form­a­tion sheets on its webpage. In ac­cord­ance with sec­tion 86A of the Con­sumer Cred­it Act 1974, lenders are re­quired to in­clude a copy of the rel­ev­ant...
De­fault No­tices for Con­sumer Cred­it Agree­ments: Have you made the changes?
Firms are re­minded that the re­quired amend­ments to de­fault no­tices must be made by 2 June 2021. The Con­sumer Cred­it (En­force­ment, De­fault and Ter­min­a­tion No­tices) (Coronavir­us) (Amend­ment) Reg­u­la­tions...
Con­sumer cred­it firms: changes to SECCI im­min­ent
As pre­vi­ously re­por­ted, con­sumer cred­it firms must make changes to their pre-con­tract con­sumer cred­it in­form­a­tion forms. These changes are now im­min­ent and must be made from 1 June 2021. Which firms are...
The FCA pub­lishes fur­ther up­dated tailored sup­port guid­ance for mort­gage...
The FCA has pub­lished fi­nal­ised tailored sup­port guid­ance (TSG) for mort­gage firms, set­ting out its ex­pect­a­tions on re­pos­ses­sions from 1 April 2021. The reg­u­lat­or also pub­lished the Coronavir­us linked...
Gov­ern­ment acts to bring Buy-Now-Pay-Later products with­in the reg­u­lat­ory...
Fol­low­ing the Woolard Re­view (“the Re­view”) earli­er this year, HM Treas­ury an­nounced plans to bring Buy-now-pay-later (“BN­PL”) cred­it agree­ments in­to reg­u­la­tion. The Gov­ern­ment has now brought...
UK reg­u­lat­or pub­lishes port­fo­lio strategy let­ter for main­stream con­sumer...
The Fin­an­cial Con­duct Au­thor­ity (FCA) has pub­lished a 'Dear Board of Dir­ect­or­s' let­ter it had sent to main­stream con­sumer cred­it lenders (MC­CL). The let­ter, pub­lished on Decem­ber 2, is rel­ev­ant to firms...
Firms must up­date their doc­u­ment­a­tion to ex­clude ref­er­ence to SECCI
In a re­cent de­vel­op­ment, the stat­utory in­stru­ment ad­dress­ing the Stand­ard European Con­sumer Cred­it In­form­a­tion sheet (“SECCI”) trans­ition was laid. The Fin­an­cial Ser­vices and Eco­nom­ic and Mon­et­ary...
FCA con­firms up­dated sup­port for con­sumer cred­it cus­tom­ers
The FCA has pub­lished up­dated guid­ance to firms con­firm­ing the en­hanced sup­port that should be made avail­able to con­sumer cred­it cus­tom­ers who are fa­cing pay­ment dif­fi­culties as a res­ult of coronavir­us...