FCA secures contract changes for buy-now-pay-later customers as more consumers use the product
New research from the FCA shows that there has been a significant increase in the use of buy-now-pay-later (BNPL). The news comes as the FCA has secured further changes to potentially unfair and unclear contract terms for unregulated BNPL firms. The data, which is part of the FCA’s Financial Lives research, shows that 27% of […]
Read MoreThe Lord Mayor of the City of London leads call for statutory financial education in primary schools
The Lord Mayor of the City of London has led a group calling for financial education to be made statutory in primary schools, in a raft of new measures to tackle financial illiteracy in the United Kingdom. The Financial Literacy and Inclusion Steering Group, chaired by the Lord Mayor, Nicholas Lyons, announced a six-point plan […]
Read MoreFairbanking Foundation research raises questions about whether financial services firms have cultural bandwidth to make Consumer Duty work
The Fairbanking Foundation welcomes the FCA’s new Consumer Duty. However, new research it has commissioned with University College London (UCL) and Warwick Business School supported by FIS Global, raises questions about whether financial services firms really understand and are listening to what consumers want, and whether they have the cultural bandwidth to make the Duty […]
Read MoreIndependent Age publishes report on the impact of high household costs on older people facing financial hardship
Independent Age, the charity tackling the hidden reality of poverty in later life, has published a report on the impact of high household costs on older people facing financial hardship. The report shares the often-hidden experiences of how pensioners facing financial hardship are being impacted by increasingly high household costs, across water, energy, broadband, and […]
Read MoreEnforcement Conduct Board launches Accreditation
Enforcement Conduct Board (ECB), the independent oversight body for the debt enforcement sector in England and Wales, has launched its Accreditation Scheme. Through the scheme, the ECB will establish effective oversight of enforcement work and create accountability for those undertaking it. The first year of the accreditation scheme opened for applications in September 2023. From […]
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