Demsa

In today’s bulletin: General update Speech by Nikhil Rathi, FCA Chief Executive, delivered at StepChange Connected 2024 Abby Thomas speech from StepChange Connected event on 19/9/2024 FCA Consumer Duty - Price and Fair Value Outcome CP24/19: Consumer Credit Regulatory Returns Personal insolvency – August 2024 ICO sandbox Training Collaborations Events General update I am off to the FCA on Monday for the next update from the Interim Working Group (IWG) in respect of progress on the Credit Information Market Study.… Read more

In today’s bulletin: General update Ombudsman News 194 Consumers have an over-exaggerated fear of debt litigation ICO data controller study Training Collaborations Events General update Citizens Advice responded to the announcement that Royal Mail will increase the price of 1st class stamps to £1.65 from October 2024. “This price stamp increase couldn’t be coming at a worse time for consumers, who will now be paying more than double the price of a 1st class stamp compared to five years ago.”… Read more

In today’s bulletin: General update Enforcement News – Autumn edition FOS – quarterly statistics – growing trends NCSC guide on Incident Management AI governance in debt services Training Collaborations Events General update StepChange responds to Bank of England Money and Credit statistics Net consumer credit borrowing rose to £1.2 billion in July 2024, from £0.9 billion in June. Within this, net borrowing through credit cards remained stable at £0.5 billion in July, while net borrowing through other forms of consumer… Read more

In today’s bulletin: General update Personal insolvency statistics DRO eligibility assessments Fair Value Assessments Training Collaborations Events General update Attention is already focusing on Winter fuel prices ahead of rises in the next quarter. For a household with typical gas and electricity consumption, and paying by direct debit, an annual bill will rise to £1,717 from October 2024, an increase of £149 compared with now. Ofgem has announced that its energy price cap will rise to £1,717 from 1st October 2024, an increase… Read more

In today’s bulletin: General update AI in debt advice How technology is better aiding consumer outcomes Expanding variable recurring payments - Response to the call for views (CP23/12) IVA reporting requirements under Rule 8.26(4) - IPA reminder Consultation on ECB Standards for Enforcement Work and Oversight Model ICO on cyber-attacks Collaborations Events General update Overall, a slow news week with the Summer holidays and many out-of-office replies. Overall prices rose by 2.2% in the year to July 2024, slightly above… Read more

In today’s bulletin: General update Scottish formal debt solutions stats – Q2 2024 StepChange June 2024 debt statistics ABI – Consumer Duty one year on Collaborations Events General update I am reviewing the outputs from the May 2024 workshops on Personal Insolvency Reform and hope to provide updates in the near future. A number on the circulation supported the 4 workshops. I also have a Teams call with the FCA policy team with Melanie this week, where we are discussing… Read more