Centre for Social Justice publishes illegal money lending report
The Centre for Social Justice’s (CSJ) new report, Swimming with Sharks: Tackling illegal money lending in England, estimates that up to one million people in England are borrowing from an illegal money lender today – that is, someone who lends money for profit without a licence from the Financial Conduct Authority. In the first major study […]
Read MoreOne in 12 now using Buy Now Pay Later to cover essentials, Citizens Advice has found
One in 12 people turned to Buy Now Pay Later (BNPL) to cover basic costs – such as food and toiletries – in the last six months, Citizens Advice has found. The charity discovered young people, those in debt and those claiming Universal Credit, are at least twice as likely to have used BNPL for […]
Read MoreNew Enforcement Conduct Board appoints Chair
Catherine Brown, the former Chief Executive of the Food Standards Agency and current Chair of environmental charity Hubbub, has been announced as the first Chair of the Enforcement Conduct Board. The Board is a new independent oversight body for the civil enforcement sector and will act to drive up standards, improve the effectiveness of enforcement […]
Read MoreCost of living now in top 5 reasons for debt, reports StepChange Debt Charity
January saw the usual seasonal increase in people looking for debt advice, according to the latest client insights report from StepChange Debt Charity. The StepChange website was visited by 358,000 users in January, a 34% rise on December 2021. Between December and January, there was also a 7% increase in visits to the ‘emergency funding’ page (24,000 […]
Read MoreFCA drives changes to Buy Now Pay Later (BNPL) firms’ contract terms
Regulator the Financial Conduct Authority (FCA) has used the Consumer Rights Act 2015 to assess the fairness and transparency of the terms of four firms offering unregulated Buy Now Pay Later (BNPL) products and identified potential harm to consumers. This is in line with its strategy to act as an assertive regulator, by being proactive […]
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