What you need to know this week
- UK General election has happened and will impact economic forecasts.
- Net consumer credit borrowing increased to £1.5 billion in May 2024.
- Credit card borrowing increased by £0.6 billion in one month.
- Other forms of credit, including personal loans and car finance, rose by £0.3 billion.
- DEMSA supports new FOS proposals affecting claims management firms.
- 52% of voters are pessimistic about improvements in living standards post-election.
- Ofgem reports energy debts have escalated to £3.3 billion.
- The FCA is intensifying its data requests to monitor consumer duty and the cost-of-living impacts.
- Meta’s AI training plans using user data have raised data protection concerns.
- PayPlan partners with MorganAsh to enhance vulnerability assessments.
- Department of Trust collaborates with the Vulnerability Registration Service for safer gambling practices.
- Digital DRA achieves Arum approved servicer status.
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