UK Finance shares how the banking and finance industry will support consumers and businesses through Coronavirus crisis
As the situation with Covid-19 in the UK evolves rapidly many consumers and businesses have questions about how the banking and finance industry will be able to support them to access the finances, support and guidance they need. UK Finance has created a dedicated area on its website which aims to provide businesses and consumers […]
Read MoreLowell announces extended COVID-19 customer commitments
Lowell, one of the largest credit management companies in the UK, has published a list of commitments to minimise the financial burden of existing debts on its customers during the Coronavirus crisis. The commitments, which have been aligned with views from debt advice sector, are designed to help those with financial difficulties caused by COVID-19. […]
Read MoreFCA publishes draft temporary guidance for firms on motor finance agreements amd Coronavirus
As money advice blogger Debt Camel has updated followers: “Earlier this week FCA guidance for unsecured loans came into force. Car finance wasn’t included with that as the FCA said it wanted to look at it separately. Now we have the details of what the FCA is proposing for car finance. It broadly follows the general “three […]
Read MoreOpen Banking Implementation Entity launches #PoweroftheNetwork amid Coronavirus crisis
FinTech innovators are using open banking technology to create effective new solutions to address the economic impact of the Covid-19 outbreak. The Open Banking Implementation Entity (OBIE) has created a web page to bring these together in one place and is using the hashtag #PoweroftheNetwork to promote it. The solutions being showcased include MALG member Elifinty’s new […]
Read MoreResolution Foundation report published: Next steps in the economic response to Coronavirus
Think tank the Resolution Foundation has published a report on the next steps in the economic response to Coronavirus. The report introduction reads: “The Government has responded to Coronavirus by shutting down large parts of the UK economy, and socialising the costs of doing so through a package of fiscal support to firms and individuals unprecedented in size and scope. Given […]
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