In today’s bulletin:
General update
FCA report on consumer outcome monitoring
Questions about SARs and ICO update
Collaborations
Events
General update
A week dominated by the general election. Meanwhile, new figures from the Bank of England show net consumer credit borrowing rose sharply in May 2024 to £1.5 billion, up from £0.8 billion in April. This was driven by net borrowing on credit cards rising from £0.2 billion to £0.8 billion and borrowing on other forms of credit such as personal loans and car finance rose from £0.6 billion to £0.9 billion in the same period.
Link: https://www.bankofengland.co.uk/statistics/money-and-credit/2024/may-2024
Link: https://www.stepchange.org/media-centre/press-releases/may-boe-money-and-credit-stats.aspx
DEMSA also responded to the Financial Ombudsman Service on their proposals for charging claims management firms from October 2024. We were broadly supportive of the proposals. If you are interested in our response, then please drop me an email. ...
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