What you need to know this week
- Consumer Duty Board reports must be signed off by the end of next week.
- UK government borrowing in June 2025 reached £20.7bn – £6.6bn higher than June 2024.
- Car and van production is at its lowest level since 1953, excluding the Covid period.
- The FCA released a comprehensive update on the retail insurance market, including claims handling, motor premiums, and premium finance.
- Rachel Reeves is considering retrospective legislation over a potential £44bn car finance Supreme Court ruling.
- PayPlan is currently engaging with 3,500 people per week and supporting over 87,000 consumers.
- 51% of UK adults now use social media to access news, with Facebook being the most used platform.
- The FCA reaffirmed its economic crime priorities, with recent actions against Monzon and Barclays.
- The FCA’s July Consumer Network meeting focused on redress, BNPL, mortgage rules, and Consumer Duty updates.
- Ofwat may be abolished following an independent review recommending restructuring of the water sector.
- Santander UK has gone live with new Debt Manager software from C&R Software.
- CSA Conference is scheduled for 11 September 2025 and FourNet’s compliance event on 17 September 2025 in Manchester.
Read the full summary – here
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