What you need to know this week
- Bank of England’s interest rate has been reduced to 4.75%, with 8–1 MPC vote split.
- Trump’s US presidential re-election raises concerns over potential regulatory divergence.
- Mortgage arrears among UK homeowners have increased by 8% year-on-year, with StepChange reporting a 68% rise in client mortgage arrears.
- Online Choice Architecture practices under review by ICO and CMA for potential impacts on consumer data control.
- PS24/2 rules to protect borrowers in financial difficulty took effect on 4 November 2024.
- UK’s Online Safety Act will address Generative AI and chatbot regulation per Ofcom guidelines.
- Insolvency Service FOI data highlights IVA terminations by debtor demographics from 2014 to Q3 2024.
- Employers NI increase in April 2025 signals potential layoffs and price hikes from major UK firms.
- Citizens Advice and MoneyHelper address financial strain, with over 8m in debt and 12m on the financial brink.
- The Digital DRA partners with IE Hub on an online budgeting tool aligned with FCA standards.
- Registry Trust and Plain Numbers partnership targets better support for customers with CCJs.
- IPA’s Anti-Money Laundering report stresses enhanced AML practices amid complex economic crime landscape.
Read the full summary – here
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