Enforcement Conduct Board opens consultation on its Business Plan for 2023/24
The Enforcement Conduct Board (ECB), which was set up in 2022 to ensure that all those who are subject to enforcement action in England and Wales are fairly treated, has opened a consultation on its Business Plan for 2023/24. The consultation welcomes feedback from industry, consumer groups, those who have experience with enforcement themselves, the […]
Read More#DebtAwarenessWeek 2023: One in six people has £20 or less to live on after paying for essentials each month
New YouGov polling by StepChange Debt Charity for Debt Awareness Week reveals the dire state of household finances over a year into the cost of living crisis, with people imminently facing higher council tax, less support with energy bills and increased rent or mortgage payments. The representative survey examines the toll that the cost of living crisis has had […]
Read MoreCitizens Advice publishes report on IVA adverts promoting unsuitable debt solutions
According to a new report from Citizens Advice, people in deep financial trouble are being misled by profit-making firms into unsuitable debt solutions which are often leaving them worse off. With the cost-of-living crisis pushing more people into debt, Citizens Advice has found worrying numbers of people in Individual Voluntary Arrangements (IVAs) unable to keep […]
Read MoreStepChange sees “startling” rise in demand for debt advice
More than 18,000 new StepChange Debt Charity clients completed full debt advice in January 2023, which is at least 22% higher than any single month in 2022, suggesting that more and more people are struggling with debt in the new year following almost 12 months of rising living costs. Meanwhile the Bank of England’s Money and Credit […]
Read MoreRegulation of Buy-Now Pay-Later: consultation on draft legislation
On 2 February 2021, the government announced its intention to regulate interest-free Buy-Now Pay-Later (BNPL) products. The government consulted on policy options to deliver a proportionate approach to regulation in October 2021, followed by a consultation response in June 2022. The government is now consulting on the proposed draft legislation that will bring BNPL into […]
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