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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.
- Discussion on the potential delay in regulating the Buy Now, Pay Later (BNPL) sector due to its rapid growth.
- Importance of data protection and fair value for savings customers, emphasizing transparency and effective engagement strategies.
- Launch of an interactive guide by HMRC to tackle economic abuse and create a supportive environment for victims.
- New guidance by the Consumer Council for Water (CCW) to foster a customer-centric culture in the water industry.
- Introduction of a Single Customer View (SCV) solution to protect gamblers from harm in the gambling sector.
- Analysis of personal insolvency statistics, including various types of insolvencies and trends.
- Consideration of vulnerability management and its role in harm prevention.
- Key takeaways from the recent Consumer Duty planning and Financial Conduct Authority (FCA) activities.
- Coverage of the recent MALG conference featuring notable speakers.
- Upcoming events and training sessions focused on consumer finance, compliance, and regulation.
- Overall consumer confidence fell by 1.7 points in June.
- Inflation rate dropped to 7.9% in the 12 months to June 2023.
- £2.4 million in fines issued since April 2022 against companies responsible for nuisance calls.
- Increase in individual insolvencies in Northern Ireland, reaching 160 cases.
- The potential delay in BNPL sector regulation raises concerns given its popularity and risk implications.
- Data protection and fair value for savings customers are paramount in maintaining transparency and informed decisions.
- HMRC’s interactive guide on economic abuse aims to create a supportive environment for victims to share their experiences.
- The CCW’s new guidance highlights the industry’s commitment to customer-centric culture transformation.
- The SCV solution in the gambling sector reflects proactive intervention to reduce gambling-related harm.
- Personal insolvency statistics offer insights into economic trends and vulnerability management’s significance.
- Focus on vulnerability management underscores the need for targeted interventions to prevent harm.
- Stay informed about recent Consumer Duty planning and FCA activities shaping the regulatory landscape.
- Insights from the MALG conference shed light on industry trends and developments.
- Upcoming events and training sessions provide opportunities for continued learning and compliance enhancement.
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