What you need to know this week
- Canada and Mexico announce retaliatory tariffs following US import tax hikes.
- AstraZeneca cancels £450m investment in a UK vaccine plant due to reduced government support.
- Barclays resolves payment system outage; customers await balance updates.
- Consumer credit borrowing rises by £1bn in December 2024; mortgage lending also sees growth.
- Nearly half a million UK pensioners still have outstanding mortgage debt.
- Credit union assets increase to £4.93bn; arrears liabilities up to £213.56m.
- FCA sends portfolio letters to claims management firms and mortgage intermediaries, emphasising Consumer Duty.
- Data protection developments address Automated Decision-Making (ADM) and data sharing through the [DUA Bill].
- FCA publishes generative AI case studies for risk management and operational improvements.
- Vulnerable customer support initiatives see collaboration between financial firms, AI innovators, and regulators.
- UK Finance partners with Accenture to explore generative AI risk mitigation strategies.
- FourNet’s transformation of Newcastle City Council’s contact centre saves over 100,000 hours annually.
Read the full summary – here
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