Demsa

DEMSA Column: IVA FOI request / Ofwat / PS24-2 / Debt Functional Standard / Online architecture / Collaborations / Events

In today’s bulletin: General update Government Debt Function Standard update   Online Choice Architecture practices can undermine consumer choice and control over personal information IVA terminations by duration, and by debtor age and gender, England & Wales, 2014 to Q3 2024 PS24/2 - Borrowers in Financial Difficulty - live from 4/11/2024 Setting up 2-Step Verification (2SV) Ofcom - how the UK’s Online Safety Act will apply to Generative AI and chatbots Collaborations Events General update The headlines were the interest… Read more

DEMSA Column: FCA Call for Input / Cost of compliance / ICO / AI governance / Complaint handling / Training / Collaborations / Events

In today’s bulletin: General update Cost of compliance IPA update on protecting consumer interests FCA questionnaires for lenders and debt buyers around CIMS Collaborations Events General update The headline topic was the Budget. Peter Tutton pictured below, putting a brave face on. Peter from StepChange was quick out of the blocks with budget headlines that are actually beneficial to consumers alongside the new funding for pothole repairs. This should be good news for some consumer segments and for the debt… Read more

DEMSA Column: CP24-19 / Vulnerability / Consumer Duty / CX / Cyber / Collaborations / Events

In today’s bulletin: General updateCP24/19 submissionsVulnerability is not a buzzwordOmbudsman update – H1 2024 complaintsCollaborationsEvents General update PayPlan respond to The Insolvency Service report on early IVA failures PayPlan reinforced the DEMSA position to The Insolvency Service and the FCA that there should be a distinction in the report between FCA-regulated debt solution providers and debt-packagers, as defined by the FCA under PS23/5 (debt packager rules). They have also confirmed that they are an early adopter of the Consumer Duty… Read more

DEMSA Column: CP24-19 / Vulnerability / Consumer Duty / CX / Cyber / Collaborations / Events

In today’s bulletin: General update CP24/19 submissions Vulnerability is not a buzzword Ombudsman update – H1 2024 complaints Collaborations Events General update PayPlan respond to The Insolvency Service report on early IVA failures PayPlan reinforced the DEMSA position to The Insolvency Service and the FCA that there should be a distinction in the report between FCA-regulated debt solution providers and debt-packagers, as defined by the FCA under PS23/5 (debt packager rules). They have also confirmed that they are an early… Read more

DEMSA Column: IS report on IVA failures / Insolvency stats / MaPS debt advice report / Ombudsman News / Events

In today’s bulletin: General update FCA data requests and horizon scan into 2025 – 10am 22/10/2024 Insolvency Service review of early IVA failures Personal insolvency stats in England & Wales - September 2024 MaPS proposals for the delivery of its debt advice strategy Is customer experience getting worse? Blog by Garry Gormley Ombudsman News Events General update There has been a ‘surprise’ fall in inflation that may pave the way for more interest rate cuts. That is the BBC headline.… Read more

DEMSA Column: FCA interventions / TSB redress / ICO framework / Consumer Duty / Economy / Events / Collaborations

In today’s bulletin: General update FCA action against TSB – lessons learned New ICO data protection audit framework BSI ISO 22458 update Collaborations Events General update We are coming up to the deadline for some on the FCA Fair Value Assessment response by 18 October 2024. We are able to provide support if not already requested. As covered in the bulletin last week, some regulated firms also have the Stage 2 Customer Support RFI deadline on 16 October 2024. It… Read more