What you need to know this week
The Budget introduced a cap on Universal Credit deductions, reducing them from 25% to 15% for around 1.2 million households.
IPA has released guidance for Insolvency Practitioners (IPs), focusing on fair and transparent treatment of consumers in line with the Consumer Duty.
The FCA issued questionnaires for lenders and debt buyers around Credit Information Market Study (CIMS), with a pre-Christmas response deadline of 20 December 2024.
The FCA highlighted issues with unauthorised debt advice firms advertising online, specifically targeting vulnerable consumers.
A Fair4All Finance study found a 16% increase in financially vulnerable individuals since 2022, with 20.3 million people now affected.
Recent ECB research using body-worn cameras shows mostly fair treatment by bailiffs, though council tax collection practices remain a concern.
FCA compliance costs continue to rise, impacting firms’ business resilience and potentially affecting competition and inn...
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