CCTA announces strategy change with new CEO appointment

The Consumer Credit Trade Association (CCTA) has announced the launch of a strategy to reshape the organisation and create a stronger voice for alternative lenders.

Ahead of the CCTA’s Annual General Meeting and the start of its new membership year, the CCTA explained it is making changes to its structure, carrying out a review of association services and introducing a new campaigning strategy.

As part of these changes, Jason Wassell has been appointed the new Chief Executive. He will work alongside current Chief Executive Greg Stevens, who is to retire at the end of the year and take up the role of CCTA Chairman.

Wassell said “Over recent years, it has become clear that there are issues of common concern for many lenders, and that was before the impact of the pandemic. I am delighted to have been appointed as the new Chief Executive of the CCTA, and even more pleased that we have agreed on an approach that will create a stronger voice for alternative lenders.”

Wassell currently serves as the Chief Executive of the Consumer Finance Association (CFA), the trade association for short-term lenders. The two associations have always worked closely together and in the future will form a closer alliance.

The CCTA has a long and influential history, dating back to 1891. Since that time, it has represented businesses who offer credit to consumers, providing services to members to ensure compliant professional services and representing the sector in discussions with regulators and Government.

Recent times have seen the number of common issues arise, for example, in terms of regulatory challenges and the impact of the pandemic. The CCTA Council has agreed to make strategic changes to serve the membership better and promote responsible access to credit.

The plan involves the recruitment of new members, changes to the CCTA Council, a review of current services and more campaigning activity. The aim is to make the CCTA the natural home of the alternative lending sector, representing a wider proportion of the market.

Current CCTA Chief Executive Greg Stevens said “I am pleased that Jason has been chosen as the next Chief Executive of the CCTA. I know from our work together that he understands the UK’s alternative lending sector and the challenges it faces.’

“More importantly, he understands why the sector is vital to the consumers that use it. It is too easy to forget the important part that consumer credit plays in families across the country. I look forward to working with him”.

Wassell will take up his new position on the 1st January 2021. He will remain Chief Executive of the CFA until this date.

It also understood that the CFA members and the team will transfer to the CCTA in January 2021.