What you need to know this week
- Inflation rose to 3.5% in April 2025, up from 2.6% in March, impacting household budgets and potentially delaying interest rate cuts.
- FCA’s CP25/13 proposes aligning complaint reporting to calendar year-end and includes new categorisation rules for Consumer Duty and Vulnerability.
- Individual insolvencies for April 2025 reached 10,012, including 5,586 IVAs and 3,837 DROs.
- 7,273 Breathing Space registrations in April 2025, a 5% year-on-year decrease.
- New rules will bring Buy Now Pay Later (BNPL) products under FCA regulation, introducing affordability checks and access to the Financial Ombudsman.
- HM Treasury’s CCA Reform Phase 1 consultation focuses on replacing prescriptive disclosure rules with Consumer Duty-aligned FCA rules.
- AI guidance issued by Ofgem aims to ensure ethical, secure and inclusive AI use in energy services.
- Ofgem energy price cap drops 7% from 1 July 2025, but remains 10% higher than the same period last year.
- 350,000 more pensioners expected to pay tax following the 4.1% state pension increase.
- Events on 17 June 2025: Debt Buyer, DCA and BPO Forum (Manchester); MaPS Debt Advice Sector Technology and Innovation Forum (London).
- Credit Connect Awards recognised sector contributions, including the CSA and Lowell collaboration on training.
- South West Water and NSN collaboration strengthens vulnerability support strategies.
Read the full summary – here
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