My pick of last week’s news is the blog on bailiff reform – body-worn cameras are not enough.
Tweet of the week
“Evidence and theory say the same thing – migrants don’t significantly depress wages…but the media prefer to give a platform to racists than educate people about economics.” https://t.co/7vaZnb3Bee
— Jonathan Portes (@jdportes) February 22, 2020
A year on from the government’s call for evidence on bailiff reform –body-worn cameras are not enough Money Advice Trust blog: this measure only adds weight to our calls for an independent regulator – these rules will need a regulator to enforce them, and make sure firms and individual enforcement agents abide by what is required.
Sector Views FCA: a high-level view over all the areas the FCA regulates.
- I’m pleased to see that guarantor loans were mentioned.
- Warning over Help to Buy scheme as it’s leaving first-time buyers in negative equity Sun
Goldman-backed Neyber lines up administrators Sky news: a Neyber employee confirmed that the company had halted making new loans, saying that it hoped the hiatus “would only be for a few weeks”.
Debt limits … and poison pills Credit Slips: An academic US blog that starts off looking at new Russian bankruptcy laws but ends with some interesting comments on DROs and bankruptcy in England.
Irresponsible adverts will bankrupt a generation UK Money Bloggers: a blogger has a good rant about adverts for credit aimed at young people.
High loan to income mortgages – if the cap fits… FCA Insight blog: In 2014, the number of high LTV mortgages a lender could offer was capped. The FCA insight team looks at the data since then. And scratches its head.
The new FCA overdraft rules: How regulatory revamp leaves you WORSE off… and you can only save £8 by shopping around Mail: In some cases, customers face paying double the total fees charged before. On top, the effect has also been to reduce the options for those who decide to move to a cheaper rival.
Why Credit Card Debt Is At An All-Time High, While Unemployment Is At A 50-Year Low Forbes: the high level of debt in the [US] economy doesn’t mean we’ve hit “rock bottom.” It actually means we’re reaching the peak: the high level of debt means that things can only go downhill from here.
Benefits & other news
Email address charges branded ‘daylight robbery’ BBC: An Ofcom spokesperson said: “We can’t see a reason why you should have to pay these amounts to keep your email address. So we’re looking at this to consider whether we need to step in and take action.”
Revealed: the areas in the UK with one Airbnb for every four homes Guardian: prompting concern that the rapid expansion in short-term lets is “out of control” and depriving communities of much-needed homes.
No-fault evictions: ‘Our lives are falling apart’ BBC: “The council has recommended we sit out the notice and wait to be evicted. But I don’t want a court order against our names – we’ll need to rent for the rest of our lives.”
How a £3-a-month robo lawyer could help you fight back if you’re hit by a rip-off parking fine Mail: The DoNotPay robot lawyer tackles unfair tickets by asking the motorist for details via text message about why and how they were hit with a penalty – then working out the best strategy to fight any fine depending on your replies.
UK’s cash system ‘will collapse without new laws’ BBC: “We must ensure the shift to digital doesn’t leave millions behind or put our economy at risk,” said Natalie Ceeney, of the Access to Cash Review.