Demsa

DEMSA update: Duty / PS24-02 /Features / Collaborations / Events / Training

In today’s bulletin: General updateFCA vulnerability reviewCollaborationsEventsTraining General update My PS24/2 (BiFD) post is picking up some traction with contributions from a number of the vulnerability specialists on the circulation. Interesting Blog by Adam Butler at StepChange around the new BiFD policy rules (PS24/2). Link: https://medium.com/stepchange/assessing-the-fcas-new-rules-on-support-for-borrowers-in-difficulty-056b6d265f5d Link: https://ukrn.org.uk/cost-of-living-working-group-joint-letter-2/ Debt Camel article on Barclaycard cutting minimum payments The FCA announced in its November 2023 horizon scan that it will review the ‘persistent debt rules’ later this year. Sara Williams challenges whether… Read more

DEMSA update: FIN073 / PS24-2 / AI / Collaborations / Events

In today’s bulletin: General updateVirtual event around IVA voting and better outcomes for consumers in problem debt – 1/5/2024SUP15 and FIN073 reportingPS24/2 – policy rules from CP23/13 (BiFD)IVA failures by localityCollaborationsEvents General update In the bulletin today, we cover the new FCA financial resilience reports and their recent survey results, which suggest that Consumer Finance has had a negative impact for many firms. This has heightened the focus on financial and operational resilience, especially where cost cutting may have negative… Read more

DEMSA update: IVA voting / DROs / FCA news / FOS / MaPS consultation / Collaborations / Events

In today’s bulletin: General updateVirtual event around IVA voting and better outcomes for consumers in problem debt – 1/5/2024MaPS consultation on the delivery of their debt advice strategyConsumer Duty lessons learned from FCA interventions in insurance sectorFinancial Ombudsman plansSludge practices in focusCollaborationsEvents General update I liked the UK Finance article that non-executive directors (NEDs) can provide fresh perspectives, new ideas, and different problem-solving approaches. This is ideal for improving your firm’s financial resilience. I am sure that Bryan Foss will… Read more

DEMSA update: IVA voting / MaPS updates / FCA regulatory round-up / Collaborations / Events

In today’s bulletin: General updateThe changing landscape for IVAs and Creditor VotingPersonal insolvency data by region, age and genderStepChange yearbook 2023The CSA page on the debt collection processMaPS March 2024 Newsletter - update from CEO, Oliver MorleyFCA focus on vehicle valuations in write off - does this impact DRO valuations?"Dear CEO" letter to consumer lending market – 20/3/2024Final guidance for social media promotions confirmedCollaborationsEvents General update This year will "prove to be the year that the economy bounces back", Rishi… Read more

DEMSA update: FCA on vulnerability / ICO / Scams / Insolvency stats / DRO update / Events / Collaborations / Debt Adviser Apprenticeship

In today’s bulletin General updateFCA release on vulnerability management – firm expectationsGovernment Debt Fairness CharterDRO BlogInsolvency Statistics for February 2024CAP reportOfgem consultation on affordability and debtCollaborations & featuresEventsApprenticeship scheme General Update Spotted the post below from Jenny at Refresh, which may be relevant to Fair Value assessments in the wider context of looking at DMPs and IVAs as debt remedies for persistent debt, where the rules are up for review later this year. Risk appetite is likely to be under… Read more

DEMSA update: Budget / DROs / FCA / Consumer Duty / AML / Training / Collaborations / Events

In today’s bulletin General updateDROs – the budget impactStepChange research on debt advice demographicsCollaborations & featuresEventsApprenticeship scheme General Update The budget was the main event of the week, and I issued a quick bulletin on the DRO changes before I left for the FourNet Consumer Duty event on Wednesday evening. I have provided a deeper update on this below as the main item for today’s bulletin. The Budget report covers all of the detail. In a BBC report, the Institute… Read more