Industry News

Lead generators: Making money from debt

Are you struggling with debt? Why you should be wary of “introducers” 

 

Financial Conduct Authority clarifies its future interventions in financial market

The FCA has published its Mission and Business Plan for 2017/18 

 
The independent financial public body has announced that next year, amongst other things, it will focus on credit- specifically examining the issue of vulnerable consumers, high-cost credit and the difficulties around long term savings and retirement. 
 

Is this the end for long-term minimum credit card repayments?

New measures to encourage consumers to pay back credit card debt more quickly

 

The Financial Conduct Authority (FCA) is proposing new rules for consumers who are in “persistent” credit card debt. 

 

Consumer spending increased momentum in February

Following a slowdown in January, consumer spending picked up again in February

 
Concerns were raised about the January dip as consumer spending, often on credit cards, was said to be propping up the UK economy after the shock of Brexit.  

The dangers of becoming desensitised to debt

With University Degrees now costing a maximum of £27,000, are students becoming desensitised to debt?

 

HSBC to pay £4million in redress

HSBC has agreed to set up a compensation scheme for customers who may have paid unreasonable debt collection charges

UK inflation at highest for 2 years

Inflation was at its highest in December since July 2014

 
Inflation rose to 1.6% between December 2015 and December 2016, a sharp rise when compared with a 1.2% rise between November 2015 and November 2016.

Financial watchdog sends warning letter to debt firms

The Financial Conduct Authority, which manages financial organisations in Britain, has sent a letter to debt management companies reminding them of their obligations to their existing debt management customers

 

Are customers in arrears treated fairly by lenders?

Report finds some companies have a way to go in supporting customers who are in financial difficulty

 
The Financial Conduct Authority (FCA) has found that whilst many firms are improving the way they deal with customers in early arrears, there are a number of areas where consumer credit firms still need to improve their practices.

New measures to make savings accounts easier to understand

The FCA has published new data on savings interest rates and announces new rules coming into effect

 
The Financial Conduct Authority (FCA) is undertaking work to “shine a light” on firms’ strategies and deals for their long-standing savings customers.