MALG members BCCA and the Consumer Finance Association (CFA) have announced that they will join together to represent alternative lenders and allied services.
The joint statement reads: “The short-term lending sector has changed radically over the last few years in areas such as regulation and lending culture. It is time for a change in sector representation. There will be significant benefits in bringing our members together. Through this merger, we believe that we can better represent the entire sector, from new start-ups to the market leaders. Our members will provide lending online and on the high street. We will continue to develop our growing representation of credit brokers.”
The Boards agreed that Jason Wassell, currently Chief Executive of the BCCA, should take over immediately as the leader of both organisations. He will become the Chief Executive of the new organisation once the merger takes place. More information will be provided soon and the newly formed organisation will continue to be a member of MALG.