Credit, Collections & Insolvency News
The Government has announced a crackdown on unwanted and misleading subscriptions, which will save consumers around £400 million every year. The new rules will make it simpler and far less painful to escape unwanted subscriptions, stop people from being silently rolled onto expensive contracts and ensure that companies are upfront and open when selling subscription…
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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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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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A new analysis of its credit card data for 2025 by global analytics software specialist FICO has found a fundamental shift in market dynamics from traditional cyclical patterns to clearer management of affordability challenges. The year was characterised by consumers struggling to manage existing debt levels, with average balances reaching record highs while payment rates fell. The…
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The UK is facing a growing financial literacy crisis, with millions of households navigating credit without fully understanding how it works, according to new research from Creditspring. As borrowing becomes faster and more accessible, consumers risk making costly, but entirely avoidable, financial decisions. Across the UK, understanding of even the most basic credit concepts remains…
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The Payment Systems Regulator (PSR) has fined Bank of Ireland UK for failing to implement Confirmation of Payee (CoP) by the required deadline. The Payment Systems Regulator (PSR) has fined Bank of Ireland UK £3.7m for failing to implement a crucial fraud protection service on time. The bank missed the deadline by 14 months, leaving…
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72% of consumers abandon their baskets after being declined for credit at checkout, despite over half saying they would look for an alternative finance option. The results, from independent research commissioned by Payl8r, with the figures suggesting that single-lender checkout structures may be contributing to avoidable conversion loss. Payl8r says that the research reveals ‘false…
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New research from FIS suggests that digital currencies, such as cryptocurrencies and stablecoins, are firmly on the radar of younger consumers, but with limited understanding and concerns around transparency, continue to hold back wider adoption across the UK. While the FCA recently confirmed that stablecoin payments are a 2026 priority, the data shows a clear…
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Today (Tuesday 17th February) marks twenty years since Chip & PIN fully replaced signatures for in-store card purchases. Since then, the way we pay and the way criminals attempt to commit fraud, has significantly changed. Alongside more than 25 million additional cards now in circulation compared with two decades ago, two major shifts have transformed…
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New research from American Express has found that nearly a third (29%) of adults either plan to, or will consider using, AI assistants and tools when they shop this year, rising to nearly four in ten (37%) for younger consumers aged 18-34. American Express says that for younger consumers, AI is rapidly becoming woven into…
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Household spending in the UK decreased by 0.2% in 2025, marking the first decline since 2020, according to Barclays. Families are cutting back on essentials, including groceries. The figures fell after growing 1.6 per cent in 2024 and 4.1 per cent in 2023. In a year marked by careful and considered budgeting, confidence in household…
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New research from Aegon has revealed that most people value time with loved ones over expensive gifts this Christmas, as the cost-of-living crisis reshapes festive traditions. The survey found that 57% of people say spending time with loved ones matters most, while only 9% prioritise gifts. The average total spend in the UK on Christmas…
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The Payment Systems Regulator (PSR) has outlined changes that will provide businesses with more information on the card payment fees they incur. This follows its market review which found Mastercard and Visa don’t face competition with fees rising and a lack of clarity on how much businesses will have to pay to accept card payments. Card payments…
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