In a quiet week for debt news, my top pick is What is the right way to measure quality in banking?
Tweet of the week
“This #foodbank is a lifeline for us. We haven’t had a meal for 2 weeks,” said one. Another couple said that “everything is going up and all our money goes on bills”. Such powerful stories from people at #foodbanks in moving animation ‘Hunger by the Sea’ > https://t.co/iRiWvDmea0
— The Trussell Trust (@TrussellTrust) August 17, 2018
The Money Shop stops lending my article.
Nearly four million UK households could default on personal debt by 2022 Credit Strategy: Arrow’s prediction is based on figures from the Office for Budget Responsibility (OBR), which showed that around 3.3 million households defaulted on their debt by the end of 2017.
Why a ‘cheap’ mortgage from a high street bank will cost you more in the end Mirror: Going for the lowest rate may not be the smartest move, especially if you pick one of the major lenders.
Consumer Credit Regulation: Learning from US History? Blog: Anne Fleming, in a thoughtful, carefully researched, and stimulating book, City of Debtors examines the history of regulation of ‘fringe finance’ in the US since the early twentieth century.
‘I regret spending a lot on takeaways’ – students on their money Guardian: First years tell us what they learned about loans, overdrafts – and how to fund nights out. The best advice seems to be to have well-off parents…
Universal credit & benefits news
Ending DSS Discrimination Shelter blog: In the next few months Shelter intends to bring a series of test cases to court which challenge those who refuse to consider letting to people on benefits and to ask the courts whether their practices are lawful or are in fact indirect discrimination.
The young man with brain tumours told he is fit to work despite being unable to leave the house alone Wales Online Philip Jewitt has had five operations over the last couple of years and a consultant said he was ‘unable to hold down a job’.
What’s the right way to measure quality in banking? Fairer Finance: The CMA has forced banks to start publishing polling data, showing how likely their customers are to recommend them. It’s an important step by the regulator, but do the results provide the right answers?
If you thought the taxman was slow, try ringing Action Fraud Times (£ paywall) Victims of crime need a speedy response. They aren’t getting it
The astonishing lengths insurers will go to avoid paying on a claim – how to fight back Mirror: When Gary was told his insurance wasn’t paying out, he fought back – this is what they tried on and how he dealt with their tactics.