CCCFA changes need to go further – Bankers Association

“It's not clear that they move the dial enough to make a difference,” according to the association chief executive Roger Beaumont.

The changes were announced after a storm of protest that a law intended to protect vulnerable people ended up penalising almost everyone.

They included removing regular 'savings' and 'investments' from would-be borrowers' expenses that were measured against their intended loan.

They also reduced the need for lenders to comb through bank statements of all borrowers – an apparent reference to the notorious cups of latte that got added to a person's outgoings.