24 March, 2014
24 March, 2014
[2014] EWCA Civ 337
24 March, 2014
Changes for payday lenders and debt management companies include mandatory affordability checks for payday borrowers and requirement to provide information to customers on how to get free debt advice.
24 March, 2014
BBC reports on change from estimate of 40 per cent six months ago, with economics consultancy London Economics warning that 'tipping point' - where costs of new system of increased fees will exceed those of old one - would be reached if 48.6 per cent of loans were not repaid.
21 March, 2014
New regulations that bring into force, with one limited exception, Part 3 of the 2007 Act, which provides for the replacement of various powers of enforcement by way of execution and distraint by a procedure known as taking control of goods, and for the abolition of distress for rent and its replacement by a power (to be known as commercial rent arrears recovery, or CRAR) to use the taking control of goods procedure.
21 March, 2014
New legislation will help introduce a ‘Financial Health Service’ for Scotland, providing a modern system of debt advice and debt management.
19 March, 2014
18 March, 2014
Funding designed to help achieve target of 143,000 members of credit unions in Wales by 2020.
14 March, 2014
New regulations relate to package of reforms designed to strengthen protection from rogue bailiffs while at the same time making sure that debts can be collected fairly.
12 March, 2014
Chair of Financial Conduct Authority tells BBC that Authority will take action to stop profits from vulnerable people, cap cost of loans and stop lending to those who will never be able to repay.
7 March, 2014
Company's 'initial customers' will include DWP, HMRC, the Home Office, the Student Loans Company, the Legal Aid Agency and the Driver and Vehicle Licensing Agency.
5 March, 2014
Micro Lend UK Limited's licence suspended after OFT concludes that this is 'urgently necessary to protect consumers'.
4 March, 2014
Seven payday loan adverts, from six different payday lenders and credit brokers, flagged with the regulator for concerns about irresponsible or misleading practices.
3 March, 2014
MAT says that it 'believes the transfer of regulatory control to the Financial Conduct Authority will provide a boost for consumer protections, and especially welcome rules that require customers with high-cost credit in clear financial difficulty to be referred to free debt advice services'.
3 March, 2014
New survey from Citizens Advice Cymru and Shelter Cymru also highlights that 28 per cent of working adults do not have sufficient savings or insurance protection products to enable them to continue to make housing payments for more than 1 month if they were to lose their source of income.
26 February, 2014
Credit Today reports that MAS confident that firm 'will be well placed to support training and qualification providers with their accreditation applications'.
25 February, 2014
New report from Dosh calls for development of improved guidance and training for bank staff, and accessible information and guidance for people with a learning disability and their supporters.
21 February, 2014
New report highlights that approximately three-quarters of UK universities have terms and conditions that could prevent students from graduating or enrolling onto the next academic year if they owe non-tuition fee debts, such as for university accommodation or childcare services.
17 February, 2014
New evidence from charity suggests that voluntary code of practice for industry introduced in 2011 is being flouted.
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