See all the links and our weekly headline roundup here.
- UK Credit Card Balances Show Stability Amid Economic Pressure
The average credit card balance in the UK remained steady at £1,735 in September, despite ongoing economic challenges. Read more - Aldermore Bank Forms Strategic Alliance with Mambu
UK’s Aldermore Bank has entered into a strategic partnership with Mambu, enhancing its financial service offerings. Read more - Metro Bank Announces Workforce Reduction and Branch Hours Review
Metro Bank plans to cut 20% of its staff and revise branch operating hours in a cost-cutting initiative. Read more - Coventry Building Society Eyes Co-operative Bank Takeover
Discussions are underway for Coventry Building Society to potentially take over the Co-operative Bank. Read more - FCA Highlights Competitive Cash Savings Market
The Financial Conduct Authority reports an increasingly competitive savings market with higher interest rates. Read more - RBC Hit with $7.5 Million Fine for AML Regulation Breaches
Royal Bank of Canada faces a significant fine for failing to comply with anti-money laundering regulations. Read more - Household Debt Costs Expected to Double, OBR Reports
The Office for Budget Responsibility predicts a substantial increase in household debt costs. Read more - Metaverse Adoption Challenges Highlighted in Industry Think Tank
The credit and collections industry discusses the rapid pace and challenges of adopting Metaverse technologies. Read more - BNPL Usage Expected to Surge During Christmas, Citizens Advice Warns
Citizens Advice anticipates a significant increase in Buy Now Pay Later usage for festive spending. Read more - UK Lagging in Global Digital Transformation, Study Finds
A report reveals that the UK is falling behind in leveraging value from new technology compared to global counterparts. Read more - 2023 Credit & Collections Tech Think Tank Reviews Industry Trends
The think tank focuses on evolving consumer behavior, technology integration, and regulatory changes in credit and collections. Read more - One-Third of Shoppers Plan to Haggle Over Christmas Prices
A survey shows that a significant portion of consumers intend to negotiate prices during Christmas shopping. Read more - Renters Pay Significantly Above Advertised Rates, Poll Reveals
Many renters are paying on average £1,200 more annually than the advertised property rates. Read more - Consumer Financial Optimism on the Rise, TransUnion Reports
Research indicates an increase in positive sentiment regarding personal finances, especially among Gen Z. Read more - Adverse Credit Likely for 900,000 Mortgage Customers in 2024
Pepper Money’s study predicts a rise in adverse credit issues among potential mortgage customers. Read more - Millions to Struggle with Heating Costs This Christmas
A substantial number of UK adults are expected to face difficulties in affording heating during the festive season. Read more - CFPB’s Debt Collection Rule Clarifies Social Media Communication
The new rule sets guidelines for debt collectors communicating through social media platforms. Read more - US Consumer Credit Card Debt Hits Record Levels Pre-Holidays
American consumer credit card debt has reached unprecedented levels ahead of the holiday season. Read more - MPs Urge Caution in Digital Pound Introduction
The UK Treasury Committee calls for careful consideration in the rollout of a digital pound to ensure cash access and privacy. Read more - Spotify to Cut 1,500 Jobs in Cost-Reduction Strategy
Spotify announces a workforce reduction of 17% as part of its cost management efforts. Read more
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