My pick of last week's news is FCA takes action against debt packager firms. Three major consultations have also been announced. Expect more next week about the proposal for a new Enforcement Conduct Authority, trailed in Families face 'tidal wave' of debt, warns think-tank with a plan to protect them from the bailiffs - the CSJ will be launching its report on this on 26 July. Debt … [Read more...]
Recent Weekly News Round-ups
Every Sunday I publish my selection from the last week's news about debt, debt advice, debt regulation and policy issues.
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My pick of last week's news is Almost 400,000 more UK homes heading for fuel poverty. Tweet of the week Good morning @debtwe Advocating for free, independent, quality debt advice as always. ✊ pic.twitter.com/XTFgjR8bMo — Ames Taylor (@PeakyAmes) July 16, 2021 Debt news The great bank account shutdown The Times (paywall): Financial firms have been told to get tough on fraud, … [Read more...]
The decision that the UC £20 a week uplift is being removed in October is the biggest - and worst - news possible for the debt advice sector. Debt news UK banks bolster debt collection teams ahead of first Covid loan repayments City AM: Britain’s four largest banks have hired over 750 workers in their debt collection units in an effort to manage a wave of potential defaults. “Should I … [Read more...]
My picks this week are two articles you may not have seen: Tenancy fees were banned a year ago, yet one firm tried to silence this writer after they charged his partner more than £400 to move out and "If you’re not too hot, we’re evicting you” Debt news New DRO rules come into force: National Debtline's updated factsheet: Debt relief orders Thousands should switch from DMPs … [Read more...]
My pick of last week's news is Millions of UK homes face winter energy bill hike of over £110 a year - one more reason why the withdrawal of the £20 a week Universal Credit in October would be a disaster. Debt news Northern English cities faced ‘avalanche’ of debt during Covid – study Guardian: Richer neighbourhoods in southern England saved £12 for every £1 saved by those in poorer … [Read more...]
My pick of last week's news is, like last week, Buy Now Pay Later news, this time with LayBuy improving its in-store offering over Klarna's. Debt news Laybuy launches digital card for in store ‘buy now, pay later’ shopping Which? using BNPL in store could be about to become more common as a result of Tap to Pay with Laybuy. Discretionary council tax reduction — How to guide Citizens … [Read more...]
My pick of last week's news is Klarna's new app. If you don't think it looks important, look again... Debt news DRO regulation changes laid before Parliament gov.uk: These are negative procedure statutory instruments so, unless the order is "prayed against" in Parliament - which is highly unlikely - they will come into force on 29 June 2021. Equifax changes credit scores on the quiet my … [Read more...]
My pick of last week's news is the set of depressing articles on renting. Tweet of the week Latest summary: WHAT THERE IS MONEY FOR: £37bn on a failed Test & Trace £billions on dodgy PPE deals for cronies £16bn on bombs & guns £200m on a big yacht WHAT THERE ISN’T MONEY FOR: Proper pay rise for nurses Proper education for kids — David Schneider (@davidschneider) June … [Read more...]
Three major items of news this week: Amigo scheme rejected by court case, the FCA bans the loyalty penalty for insurance and a demand for a fairer social tariff for water. Debt news Amigo Scheme NOT approved by the court after the FCA objected... In the matter os ALL Scheme Limited Bailii - the judgment Scheme of Arrangement: result of second Court hearing Amigo: "Amigo is … [Read more...]