DEMSA update: Consumer Duty planning / SDRPs / Unclaimed benefits / Digital debt advice / spotlight on Gambling / Events

General update

As previously reported, the Bank of England has forecast the UK will fall into recession towards the end of 2022 as energy costs continue to rise. The National Institute of Economic and Social Research said it expected the UK economy to continue falling over the next three quarters. Capital Economics said there was now a greater risk that the economy will shrink by 0.2% between July and September before worsening.

SDRP update

I sent out an SDRP update on 8 August 2022 covering the SDRP responses from UK Finance, RTL and Citizens Advice. On the DEMSA LinkedIn SDRP posting, I have covered the release from UK Finance. The UK Finance press release calls for a period of reflection around Statutory Debt Repayment Plans (SDRPs).Link: have also been clear that the regulations should not have any legal effect on a Consumer Credit Act (CCA) credit agreement, where the...

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