FCA publishes landmark Mills Review into impact of AI on retail financial services
Led by Financial Conduct Authority (FCA) executive director Sheldon Mills and commissioned by the FCA Board, the newly published Mills Review is the first work of its kind initiated by a regulator globally. Drawing on views from across the financial services landscape, the report identifies four major AI‑driven shifts likely to impact retail financial services: the […]
Read MoreGovernment opens consultation on amending regulations to introduce steps that councils will be required to take before moving to formal enforcement
The government’s Ministry of Housing, Communities and Local Government has opened a consultation seeking views on amending regulations to introduce steps that councils will be required to take before moving to formal enforcement. It outlines the steps that councils should follow ahead of seeking a liability order for unpaid council tax and proceeding to formal […]
Read MoreEnd Fuel Poverty Coalition says energy debt fears are plaguing UK households as industry profits rise
New figures released by the End Fuel Poverty Coalition reveal that UK households are already struggling to cope with the weight of energy debt ahead of upcoming price rises. The research reveals that three in ten (31%) UK adults are currently in debt to their energy company or worried about falling behind, increasing to over […]
Read MoreCredit Services Association publishes new report on supporting customers with language barriers
The Credit Services Association (CSA), the sole national trade association in the UK representing organisations active in the debt collection and debt purchase industry, has published a new report examining how language barriers can affect customer engagement across the sector. In particular, the research highlights that language barriers are a recurring operational issue across debt […]
Read MoreMonzo and Fair4All Finance announce a new partnership to widen access to affordable credit
Monzo, the UK’s leading digital bank, and Fair4All Finance, a not-for-profit focused on improving financial inclusion, announce a new partnership to widen access to affordable credit, as 16m+ UK adults face barriers to borrowing – a figure that has increased around 30% since 2018. This is in response to the fact that when refused mainstream […]
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