Demsa

DEMSA update: IPA update / Personal Insolvency reform / Collaborations / FCA Duty / Training events

In today’s bulletin General update Consumer Duty – intelligibility and consumer understanding under the Consumer Duty Call for evidence: Review of the personal insolvency framework Consultation outcome on Insolvency Service Official Statistics IPA communication to IPs Collaborations Duty training events General update The UK economy grew in the 3 months to June 2023, according to ONS where GDP increased by 0.2% in Q2 and was up 0.5% in June alone. However, a sharp rise in tax payments and cuts to… Read more

DEMSA Summary: Personal Insolvency / Mortgage Charter / Duty live / Training / Financial Promotions

Summary – Subscribe and read the full update here (all the links & more) Amidst economic shifts, regulatory updates, and a focus on consumer well-being, recent developments shed light on significant themes. The Bank of England’s decision to raise interest rates to 5.25% is aimed at managing elevated inflation. The introduction of the Consumer Duty by the FCA emphasizes tailored support for individuals facing financial hardship. Concurrently, 2.4 million UK households are grappling with difficulties in meeting essential payment obligations.… Read more

DEMSA update: Personal Insolvency / Mortgage Charter / Duty live / Training / Financial Promotions

In today’s bulletin General update Duty live – FCA messaging to consumers Government response on personal insolvency reform Duty training Events General update No interest rate cut until 'solid evidence' price rises slowing – Bank of England The Bank raised interest rates to a 15-year high of 5.25% from 5% on Thursday, the 14th rate increase in a row. Inflation, which is the rate at which prices rise, is currently four times higher than the Bank's target at 7.9%. Twelve-month… Read more

DEMSA Summary: Duty countdown / Vulnerability consultations / ISO 22458 / Panorama / Training / Collaborations

Summary – Subscribe and read the full update here (all the links & more) In the latest DEMSA Bulletin, an array of critical insights regarding consumer financial well-being, regulatory updates, and debt-related concerns are discussed. The bulletin delves into the challenges faced by health and care professionals when discussing financial issues, revealing that half of them have observed a surge in money-related health problems but feel unequipped to address these concerns effectively. Additionally, the bulletin explores the impending Consumer Duty,… Read more

DEMSA update: Duty countdown / Vulnerability consultations / ISO 22458 / Panorama / Training / Collaborations

In today’s bulletin General update Ofwat vulnerability consultation ISO 22458 – consumer vulnerability and inclusive design CSJ and Stop Loan Sharks England podcast Panorama follow-on Debt charities warn of harmful misleading debt advice ads DMP Product Assurance Frameworks Collaborations Duty training Events General update Half of health and care professionals report rise in money-related health issues I picked up on this MaPS post on LinkedIn. Half of health and care professionals report a rise in money-related health issues in the… Read more

DEMSA Summary: ICO – gambling data sharing / BNPL / Duty countdown / Training / Events

Summary – Subscribe and read the full update here (all the links & more) In the latest update from DEMSA, delve into crucial aspects of consumer finance, regulation, and economic indicators. It covers a range of topics, including Buy Now, Pay Later (BNPL) sector regulation, data protection for savings customers, vulnerability management, insolvency statistics, and more. It also discusses recent trends in consumer confidence and inflation, along with upcoming events and training opportunities. Key Points Discussion on the potential delay… Read more