Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has set out its expectations for the steps firms should take when considering closing branches or ATMs, or converting a free-to-use ATM to pay-to-use. In its finalised guidance, the FCA makes it clear that banks, building societies and credit unions are now expected to keep the FCA informed of any…
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The Financial Conduct Authority (FCA) has confirmed the support mortgage borrowers will receive if they continue to face payment difficulties due to coronavirus. The FCA has published additional guidance for firms, to ensure that consumers who have benefitted from payment deferrals under the current guidance who still face financial difficulties, as well as those whose…
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Ofgem could save energy consumers a further £1.7 billion during the next set of energy network price controls (RIIO-2), according to new analysis by Citizens Advice. In 2017, research by Citizens Advice found that energy networks would make up to £7.5 billion in unjustified profits over the course of the current price control [see notes…
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Figures from over 50s from SunLife suggests that more than 7 million over 50s have no private pension and more than 8 million don’t think they have enough money to fund their retirement. In its Finances After 50 study, SunLife found that 28% of over 50s do not have a private or company pension. The number…
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Utilities must take urgent action now to help customers avoid escalating debt or face a crisis this winter, according to Baringa Partners. The company has investigated the potential impact of coronavirus on the sector over the coming months and concluded companies face a three-fold increase in typical bad debt charge write-offs. In the report, Baringa…
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