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Podcast Link: Credit Shift
In this credit industry update, the focus is on various developments, including the challenges faced by households in paying rent or mortgages, Apple's integration of the UK open banking API into its Apple Wallet, and the updated EU Consumer Credit Directive. The report also touches on the importance of Buy Now Pay Later options for retailers and the potential benefits and risks of AI in creditworthiness assessments.
Key Points
An estimated 7 million households in the UK are struggling to meet rent or mortgage payments.
Approximately 2.1 million households will face challenges as fixed-rate mortgage deals expire by the end of 2024.
High energy costs and accumulated energy debts are contributing to excess winter deaths, prompting calls for targeted supports for vulnerable groups and improved customer service from energy companies.
The UK Labour Party plans to regulate Buy Now Pay Later credit with credit ch...
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