What you need to know this week
- FCA removes the requirement for a Consumer Duty Board Champion.
- Ofgem announces a 6% increase in the energy price cap to £1,849 from 1 April 2025.
- TransUnion research shows 20% of UK adults identify as financially vulnerable.
- FCA to hold a vulnerability webinar on 11 March 2025.
- Encore Capital Group shut down following an Insolvency Service investigation.
- Ofcom updates Call Line Identification (CLI) guidance to combat scam calls, effective 29 January 2025.
- FCA webinar on vulnerability review findings scheduled for 11 March 2025.
- Bank of England reports a rise in credit card borrowing to £1.1 billion in January 2025, with an 8.5% annual growth rate.
- FOS receives 10,957 credit card complaints in Q3 2024/25, highlighting persistent concerns over unaffordable lending.
- UK Finance outlines best practices for lenders in response to PS24/2, aligning with FCA vulnerability reports.
- Finance & Leasing Association reports record £154.6 billion in new lending across various sectors in 2024.
- FCA publishes guidance on the application of MCOB 11.6.18R for interest rate stress testing in mortgage lending.
- ABCUL Annual Conference 2025 set for 13-14 March in Leeds, focusing on the future of credit unions.
Read the full summary – here
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