Demsa

In today’s bulletin: General update FCA vulnerability review Collaborations Events Training General update My PS24/2 (BiFD) post is picking up some traction with contributions from a number of the vulnerability specialists on the circulation. Interesting Blog by Adam Butler at StepChange around the new BiFD policy rules (PS24/2). Link: https://medium.com/stepchange/assessing-the-fcas-new-rules-on-support-for-borrowers-in-difficulty-056b6d265f5d Link: https://ukrn.org.uk/cost-of-living-working-group-joint-letter-2/ Debt Camel article on Barclaycard cutting minimum payments The FCA announced in its November 2023 horizon scan that it will review the ‘persistent debt rules’ later this year.… Read more

In today’s bulletin: General update Virtual event around IVA voting and better outcomes for consumers in problem debt – 1/5/2024 SUP15 and FIN073 reporting PS24/2 – policy rules from CP23/13 (BiFD) IVA failures by locality Collaborations Events General update In the bulletin today, we cover the new FCA financial resilience reports and their recent survey results, which suggest that Consumer Finance has had a negative impact for many firms. This has heightened the focus on financial and operational resilience, especially… Read more

In today’s bulletin: General update Virtual event around IVA voting and better outcomes for consumers in problem debt – 1/5/2024 MaPS consultation on the delivery of their debt advice strategy Consumer Duty lessons learned from FCA interventions in insurance sector Financial Ombudsman plans Sludge practices in focus Collaborations Events General update I liked the UK Finance article that non-executive directors (NEDs) can provide fresh perspectives, new ideas, and different problem-solving approaches. This is ideal for improving your firm’s financial resilience.… Read more

In today’s bulletin: General update The changing landscape for IVAs and Creditor Voting Personal insolvency data by region, age and gender StepChange yearbook 2023 The CSA page on the debt collection process MaPS March 2024 Newsletter - update from CEO, Oliver Morley FCA focus on vehicle valuations in write off - does this impact DRO valuations? "Dear CEO" letter to consumer lending market – 20/3/2024 Final guidance for social media promotions confirmed Collaborations Events General update This year will "prove… Read more

In today’s bulletin General update FCA release on vulnerability management – firm expectations Government Debt Fairness Charter DRO Blog Insolvency Statistics for February 2024 CAP report Ofgem consultation on affordability and debt Collaborations & features Events Apprenticeship scheme General Update Spotted the post below from Jenny at Refresh, which may be relevant to Fair Value assessments in the wider context of looking at DMPs and IVAs as debt remedies for persistent debt, where the rules are up for review later… Read more

In today’s bulletin General update DROs – the budget impact StepChange research on debt advice demographics Collaborations & features Events Apprenticeship scheme General Update The budget was the main event of the week, and I issued a quick bulletin on the DRO changes before I left for the FourNet Consumer Duty event on Wednesday evening. I have provided a deeper update on this below as the main item for today’s bulletin. The Budget report covers all of the detail. In… Read more