What you need to know this week
Council Tax Arrears Levels: As of June 2024, council tax arrears levels in England reached £6 billion.
Debt Collection Practices: The Labour government is considering changes to council tax including the potential removal of the single person discount.
Consumer Duty - Fair Value Assessments: Financial firms must demonstrate that all groups of customers receive fair value for products and services.
Energy Arrears: Record levels reached with £3.69 billion owed, ahead of a 9.5% increase in the energy price cap.
APR and Credit Costs: Fair4All Finance highlights issues with APR as a measure of loan value.
Vulnerability Management Training: Scheduled for 14/10/2024, focusing on vulnerability under the Consumer Duty.
DEMSA Updates: New standards for debt enforcement practices are being discussed.
Microsoft AI Tool Relaunch: Scheduled for November following privacy concerns.
FCA's Consumer Duty Compliance: Insights published on good and poor practices under the...
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