Demsa

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

In today’s bulletin General update ICO – gambling sector data sharing scheme Colin Trend on proposed CONC 7 changes – removing ‘particularly’ from ‘particularly vulnerable’ Personal Insolvency statistics VRS Consumer Duty Training – 24/7/2023 Events General update Overall consumer confidence fell by 1.7 points in June, according to the YouGov/Centre for Economics and Business Research (CEBR), pulled down by homeowner confidence in property values which dropped by 5.8 points. They have also been looking at the fall of inflation in… Read more

DEMSA Summary: CCA Reform, BoE Mortgage Payment Warning, and Collaborations

Summary – Subscribe and read the full update here (all the links & more) In the latest update from DEMSA, several key topics in consumer finance and debt management are covered. These include the planned reform of the Consumer Credit Act (CCA), the Bank of England’s warning about rising mortgage payments, upcoming events and training sessions, collaborations with the Enforcement Conduct Board, and the development of an Economic Abuse Toolkit. The update also highlights debt statistics and emphasizes the importance… Read more

DEMSA update: CCA reform / BoE update / Duty webinar & training / Collaborations / Events

In today’s bulletin General update CCA reform Save the date – 7 September – ‘Consumer Duty & Intelligibility’ - are you compliant? FCA webinar on 12 July for debt advisers VRS Consumer Duty training – 24/7 FCA emerging regulatory approach to Big Tech and Artificial Intelligence (AI) Events General update Borrowers in financial difficulty CP23/13 closed on 13 July and DEMSA has submitted its response, which is broadly supportive of many of the proposals. I have covered much of this… Read more

DEMSA update: FCA debt adviser webinar / Cost-of-Living / Training / Collaboration / Events

General update Chris Warburton and I discussed the recent announcements from the FCA and the UKRN “Dear CEO” letter. This follows my ‘one month to go’ Blog around the Consumer Duty. Peter Wordsworth also posed some questions & answers that we addressed in this Blog with contributions from Frank Brown. Link: https://vimeo.com/841825472/d5bb550064?share=copy – full video Link: https://www.linkedin.com/pulse/consumer-duty-one-month-go-kevin-still-consulting/ MAT Outcome Report Last year, through its National Debtline and Business Debtline, the Trust helped 140,980 individuals and small business owners to tackle… Read more

DEMSA update: Duty self-assessment / Debt adviser webinar / Complaint handling / Illegal lending / Training / Events

General update    I have posted several bulletins and LinkedIn posts this week with breaking news. I think that it is significant that UKRN has issued a joint “Dear CEO” letter around the cost-of-living crisis with the logos of the FCA, Ofcom, Ofgem and Ofwat. I posted on this during the week. Letter attached. UKRN has been working closely together with 4 of their members – the FCA, Ofcom, Ofwat and Ofgem – as part of our cost-of-living working group.… Read more

DEMSA update: Interest rates / inflation /council tax / consumer duty / vulnerability / training / events

Key Summary Points: This week, key insights on the recent interest rate increase, debt challenges, council tax collections, loan shark activity, and collaborative solutions. The Bank of England's decision to raise the interest rate affects mortgage holders and the overall economy. The Financial Conduct Authority (FCA) is implementing new policies to support borrowers in financial difficulty and enhance consumer understanding. While council tax collections have improved, significant outstanding amounts remain. Debt collectors face challenges in managing arrears and require sustainable… Read more