What you need to know this week
Net mortgage borrowing increased to £3.4bn in October 2024, while consumer credit borrowing decreased slightly to £1.1bn.
The inflation rate rose to 2.3%, exceeding the government's target of 2%.
The FCA has increased regulatory activities, focusing on financial promotions, unused permissions, and data requests with December deadlines.
Consumer credit annual growth slowed to 7.3%, with credit card borrowing growth stable at 9.5%.
The FCA and FOS are seeking input on modernising the redress system, with submissions due by 30 January 2025.
Fraud and scam complaints surged, with over 73,000 complaints in Q3 2024 and £570m stolen in the first half of 2024.
The Economic Abuse Evidence Form (EAEF) is being adopted to support victim-survivors of abuse, with growing industry collaboration.
The FCA's PS24/16 rules for Critical Third Parties will take effect on 1 January 2025 to strengthen operational resilience.
AI adoption in financial services has reached 75%,...
In order to access this content a ROAR Insight: Demsa option is required.
Join or add this to your existing account here.