Credit, Collections & Insolvency News
Contracts for Difference (CFD) providers have been warned by the Financial Conduct Authority (FCA) to provide fair value, after its review found some firms had not risen to the Consumer Duty. Introduced in July 2023, the duty set a higher standard for consumer protection in financial services. The FCA says that good practice was in…
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New research by Canada Life has found that despite being the demographic most likely to have built up significant assets the data shows that one in four (27%) over 55s have no will in place, leaving millions exposed to potential probate complications and unexpected inheritance tax bills. When asked why they have not yet written a…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in September 2025 by 8% compared with the same month in 2024. In the nine months to September 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in September 2025 by 5% compared with the same month in 2024. The corresponding value of new business was 9% higher over the same period. In the nine months to September 2025, new business volumes grew…
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A cross-party committee of MPs has launched an enquiry into the pre-pension income gap ahead of the impending State Pension age increase to 67. The enquiry found that 60-64 year-olds are the joint poorest age group among working-age adults aged 25 and over, as some people leave work early to care for partners or on…
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More than one in eight people (13%) believe they would personally need more than £100,000 each year for a good standard of living in retirement, according to new research from Royal London. The figure is significantly higher than the £43,900 industry body Pensions UK’s Retirement Living Standards estimates that a comfortable standard of living will…
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New Financial Conduct Authority (FCA) research has warned that people should review and avoid using certain credit builder products. The review looked into credit builder products and the harm that they can cause to consumers, particularly if they are struggling with debt. Credit builder products claim to help people build a record of making payments,…
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New research by the Anti-Scam Alliance (GASA), in partnership with Cifas and Tietoevry has found that scammers stole an estimated £9.4 billion from consumers over the past 12 months with the report highlighting that one in five (20%) adults say they were targeted and had money taken, with the average victim having £878.60 stolen. The…
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Thousands of people at risk of experiencing homelessness will be able to open bank accounts for the first time through a new pilot between Shelter and five major banks, which will allow Shelter to support people without a fixed address removing a major barrier which stops people being able to get paid work. Lloyds, NatWest,…
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Latest figures from The Equity Release Council have shown that the equity release market space continued to demonstrate resilience in Quarter 3 2025, with total lending rising to £639 million, up from £636 million in Q2 and 4% higher than the same period in 2024. While total plan numbers were lower this quarter, customers released…
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TSB has reported an 11% increase in purchase fraud cases from January to September 2025, with these scams making up 63% of bank transfer fraud, up from 52% in 2024. Victims lost an average of £452 per scam. Experts advise consumers to verify sellers and use secure payment methods to avoid falling victim to these…
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Fraud prevention service, Cifas has announced a partnership with Trend Micro to deliver JustMe, a first of its kind mobile app designed to protect individuals from identity fraud and online scams. Fraud accounts for as much as 44% of all recorded crimes in England and Wales, with an estimated £219 billion annual cost to the UK…
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Up to 1.9 million adults, equivalent to 4% of the population, are estimated to have used unlicensed money lenders or loan sharks in the past 12 months, according to an IPSOS UK survey commissioned by Fair4All Finance. The cost of living crisis has exacerbated this situation for many, reducing households’ headroom to absorb unexpected financial…
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