Credit, Collections & Insolvency News
UK Finance has launched a new Accessible Cards Code of Practice, designed to help customers with accessibility needs or impaired vision use payment cards in-store and online. The Code means the UK is the first country in the world to have national common accessibility guidelines for flat printed payment cards. The new guidelines cover physical…
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GfK’s index of household sentiment dropped to minus 21 in March from minus 19 in the previous month. This is the weakest reading since April last year. The data showed that the decline was driven by a six-point drop to minus 37 in expectations for the UK economy over the coming year. There was also a six-point…
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The Bank of England and Prudential Regulation Authority (PRA) have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition. The UK’s resolution regime is designed to ensure that banks can fail safely, without disruption…
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The Chancellor and Economic Secretary brought together the six largest banks and building societies, alongside UK Finance, to take stock of the impact of the conflict in Iran on households and small businesses. The Chancellor secured a commitment from lenders present to proactively contact 1.6 million customers whose fixed-rate deals end between now and the…
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The Payment Systems Regulator (PSR) has set out its work programme for 2026/27 highlighting its focus on tackling high card fees, maintaining world-leading protections against Authorised Push Payment (APP) fraud and supporting innovation and competition across UK payments. This year’s work plan sets out how the regulator will build on recent reforms, take forward further…
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Borrowers face £4.6K payment shock as fixes with the average mortgage rate hitting 5.50% for the first time since August 2024 according to new market analysis by Moneyfacts. The data showed that the rate rose from 4.89% on Monday, 2nd March 2026, to 5.50% on Wednesday, 25 March 2026. As a result, the typical annual cost…
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Consumer confidence in the UK has reached an all-time low, according to analysis by the British Retail Consortium (BRC) survey conducted by Opinium. The survey, taken from March 10 to March 13, revealed a drop in consumer expectations for the economy to -53, down from -30 the previous month. Personal finance expectations also fell to…
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More than 12 million adults with credit products aren’t confident they understand APR, one of the most important measures of borrowing cost, according to new research from Creditspring. The data also suggests that millions of UK adults are using loans, credit cards, and Buy Now, Pay Later (BNPL) products without fully understanding key terms or…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in January 2026 compared with the same month in 2025. In the twelve months to January 2026, new business in this market was 6% higher than in 2024. The credit card and personal loans sectors together…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell 1% in January 2026 compared with the same month in 2025. The corresponding value of new business was 3% higher over the same period. In the twelve months to January 2026, new business volumes grew by…
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Latest FICO analysis of credit card data for January 2026 shows a post-Christmas reduction in spending as customers prioritised payments after the festive break. However, with spending lower year-on-year and increases in missed payments, the financial pressures that were a feature of the UK economy for the majority of 2025 have continued into the new…
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The number of Africans applying for, or planning to apply for a UK mortgage is falling as foreign nationals continue to struggle to navigate the UK home loan system, according to research by Afin Bank. The research by the specialist lender found that 38% had a mortgage in 2026, compared with 48% in 2025 and…
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The Bank of England has announced that it has held interest rates at 3.75% with the Monetary Policy Committee (MPC) voting unanimously to keep interest rates on hold. The Bank says that a “shock to the economy” sparked by the war in the Middle East could push inflation as high as 3.5% later this yeart,…
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