Credit, collections & insolvency news
The Financial Conduct Authority (FCA) says that it prepared to take action against firms failing to comply with a new duty to justify charges to customers. The rules cover all financial products and services and mean that firms must deliver good outcomes for customers. The regulator has since set out a 14-point plan to ensure banks appropriately…
Read more
A new Financial Lives survey from the Financial Conduct Authority (FCA) has found that 7.4 million people unsuccessfully attempted to contact one or more of their financial services providers in the 12 months before May 2022, while less than half of adults said they had confidence in the UK financial services industry in general. With…
Read more
With less than two months to go before the new Consumer Duty deadline, two-thirds (65%) of UK lenders admit they are yet to fully review the regulation requirements, according to new research from AI powered transaction analytics firm, Fuse. The FCA’s new Consumer Duty will come into force at the end of July 2023. It…
Read more
With fewer than 90 days to go until the start of the Consumer Duty the Financial Conduct Authority (FCA) has urged firms to ensure they are ready for the 31st July deadline. Sheldon Mills, Executive Director of Consumers and Competition at the FCA, warned that firms who ignore the Duty or who pose the most…
Read more