Ofcom has fined BT £245,000 after an investigation found that the company overcharged EE’s mobile customers for making calls to 118 directory enquiries services. Ofgem said that although use of directory enquiries has declined in recent years, many people still rely on them as an important means of obtaining the number they need. Older people…

Non-financial behaviours such as social media use and transactional behaviour may be used in future credit risk assessment with implications for access to consumer finance, according to a report released by Registry Trust. The ‘Futures of Credit Risk Assessment in the UK’ report written by Senior Lecturer Joe Deville of Lancaster University and published by…

Here is an overview of The Money Charity’s latest statistics for Febrruary 2020 Personal debt in the UK People in the UK owed £1,675 billion at the end of December 2019. The average total debt per household, including mortgages, was £60,213 and per adult was £31,766, around 112% of average earnings. Net mortgage lending rose…

More than three out of ten consumers (34%) say they would be most likely to take on extra debt if they were faced with a sudden gap in their finances, according to new research from R3, the insolvency trade body. Thirteen percent of over 2,000 people surveyed by Savanta ComRes for R3’s latest Personal Debt…

The Ofcom board has announced the appointment of Dame Melanie Dawes as Chief Executive. Dame Melanie has been Permanent Secretary at the Ministry of Housing, Communities and Local Government since 2015. She will take up her new position in early March. Dame Melanie has held senior roles across the Civil Service, working in partnership across…

In the year up to November 2019, UK households borrowed almost as much as the Government, demonstrating that debt remains both a private and public sector issue, according to the January 2020 Money Statistics, produced by The Money Charity. The latest data available from the Bank of England and ONS shows that UK households borrowed almost…

Here is an overview of The Money Charity’s latest statistics for January 2020 Personal debt in the UK People in the UK owed £1,669 billion at the end of November 2019. The average total debt per household, including mortgages, was £59,982 and per adult was £31,643, around 111.6% of average earnings. Net mortgage lending rose…

New research from TransUnion has highlighted the importance of trust and says that empowering and educating consumers is essential for lenders to compete in a changing financial landscape TransUnion’s new white paper, which examines consumer credit behaviour in the UK, unveils key trends and themes for lenders to note as we embark on a new…

A new Collections Technology Think Tank has been launched by Credit Connect Media. The event will examine collections technology strategies to increase effectiveness and efficiency. The inaugural Collections Technology Think Tank powered by Credit Connect will take place on Thursday 11th June at the Marriott Hotel in Leeds. The event will focus on how collections teams can…

The Competition and Markets Authority (CMA) has announced that it has extended the loyalty penalty deadline by six months to ensure regulators take effective action. The loyalty penalty – where companies penalise longstanding customers by charging them higher prices than new customers or those who renegotiate their deal – is  in response to concerns raised…

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