My pick of last week’s news is Mastercard to block sneaky subscriptions – let’s hope it happens!
Tweet of the week
The govt is simply bringing in Welfare Reform Act 2012 Schedule 2 para 64 passed when you were Pensions Minister voted for by you “1A) A claimant is not entitled to state pension credit if he is a member of a couple the other member of which has not attained the qualifying age.” https://t.co/OpUY7OuZ8E
— Paul Lewis (@paullewismoney) January 15, 2019
Your partner could be ARRESTED for controlling your money under new Domestic Abuse Bill Sun: “physical and economic safety are interlinked – if an individual can’t access the resources they need to leave they will stay longer and experience more harm as a result.”
Mastercard to block sneaky subscriptions that charge you without consent Mirror: Mastercard said it plans to block brands from turning free-trial subscriptions into paid ones without full permission first.
Solihull Tory MP Julian Knight calls on council to ‘ensure survival’ of Citizens Advice after funding axe Coventry Observer: “I have written to the council leadership making it clear the potentially damaging impact of removing 60 per cent of CAB’s funding.”
UK reviews impact of student debt on financial stability FT (£ paywall) Bank of England examines how loans affect graduates’ ability to spend and pay other debts.
CIVEA evidence on enforcement of debt by bailiffs House of Commons Justice Committee: “complaint levels are extremely low” – CIVEA seem to have missed the point that that is one of the main causes for concern!
Lloyds’ overdraft fees unacceptable, says MP BBC: The new tariff means anyone borrowing less than £4,100 on their overdraft will pay more.
UK banks braced for slump in consumer borrowing FT (£ paywall) Survey shows greater gloom on credit card lending than during the financial crisis.
Do you Klarna it? The ‘buy now pay later’ shopping app backed by Snoop Dogg is booming Mail: it doesn’t tell you on its website it’ll send debt collectors round if you don’t pay – and does it encourage you to spend money you don’t have? … a service that features no interest rates, fees or charges, or formal credit applications.
How January pushes the poorest towards the priciest debt Independent: The month is ‘five weeks of hell’
The price of love for a pensioner is £52.44 a week Gareth Morgan Blog: A single person, over state pension age, and claiming Pension Credit, will qualify for £167.25 a week in benefits. If he, or she, forms a relationship with another, younger, … they move onto Universal Credit, they get the Universal Credit rate for a couple. That’s £114.81 a week.
Ministers urged to halt right-to-buy scheme Guardian: More than 40% of former council homes now rented out by private landlords