Credit, Collections & Insolvency News
Business activity in the UK financial services sector has sharply declined, according to the Confederation of British Industry (CBI). The net reading for business activity fell from 65 in March to -58 in June. Firms reported deteriorating profitability and cited poor investment returns as a key growth limitation. The quarterly survey also found that sentiment…
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The Financial Conduct Authority (FCA) has called for tighter oversight of AI in financial services, having warned that the technology will significantly impact retail finance over the next decade. The report suggests expanding the FCA’s regulatory scope and creating a public-interest AI financial guidance service. The FCA found that a fifth of people are open…
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A new report by the Treasury Committee has found that students were not told clearly enough that loan terms could change retrospectively, and called for a U-turn on the decision to freeze the income threshold at which some graduates start repaying their loans. The report also says that the Government has a moral obligation to…
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New research by the Financial Conduct Authority (FCA) has found that banks have been pushing homeless people or those in financial hardship towards unsuitable online applications and away from basic bank accounts. These accounts are free, do not include an overdraft facility, and provide essential banking for those unable to open a mainstream account. Now,…
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New analysis from Citizens Advice has revealed that energy network companies have continued to rake in massive windfalls through 2025. The charity has previously warned that energy network companies, which provide pipes and cables to people’s homes, are able to profit from the high inflation that has driven the cost-of-living crisis. Since its last Debt…
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