What you need to know this week
- Bank of England reports an increase in net consumer credit borrowing to £1.2 billion in July 2024.
- Mortgage borrowing rose to £2.8 billion in July 2024, the highest since November 2022.
- Credit union total income fell by 5.50% in Q1 2024, but membership and loans to members increased.
- UK Finance introduced the Economic Abuse Evidence Form to help victim-survivors of abuse.
- Young gamblers (aged 25-34) are more likely to use credit for betting, increasing financial vulnerability.
- Debate over supermarket self-scan checkouts reflects broader concerns about digital transformation.
- Financial Ombudsman Service (FOS) saw a 70% increase in complaints in Q1 2024 compared to the previous year.
- National Cyber Security Centre (NCSC) highlights the need for effective incident management in response to cyber incidents.
- The importance of AI governance in debt services, ensuring balance between innovation and risk management.
- Training event on vulnerability management scheduled for 14 October 2024 at 1pm, offering CPD hours.
- IPA Personal Insolvency Conference scheduled for 28 November 2024.
- New e-book from TransUnion discusses leveraging data to improve customer outcomes in managing vulnerability.
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