FCA writes to credit brokers setting out the key risks in their sector

The Financial Conduct Authority (FCA) has written what it calls a ‘portfolio letter’ to the directors of credit broking firms. This letter sets out what the FCA sees as the ‘key risks’ within the sector and asks recipients to “consider the extent of these risks in your business and assess if your strategies reduce the risks.”

After assessing complaints data and other information, the FCA believes that the principal ways in which credit broking could result in harm to consumers are:

  • Firms that do not understand the regulatory environment – this might for example apply to firms offering credit for whom financial services is not their main activity. The FCA says that issues in this area include failing to understand the regulatory permissions the firm requires, and not completing accurate data returns
  • Inadequate procedures for monitoring the activities of staff and any appointed representatives
  • Misleading or inaccurate financial promotions, leading to customers making “uninformed decisions”
  • Firms that have not managed or mitigated technology-based risks, such as the risk of a cyber-attack

The letter – written by Andrew Kay, the FCA’s Head of Department / Retail Lending 1 / Supervision – Retail & Authorisations – also lists a number of concerns over how firms describe the level of service they offer. These issues include:

  • Firms that have arrangements to refer customers to specific lenders
  • Any connection between the broker and the lenders
  • Where commission is paid to the broker by a lender

The FCA says that its supervisory work in the credit broking sector over the next two years will include:

  • Verifying that firms update their Firm Details via the Connect system every year
  • Continuing to produce video guides – here the letter urges firms to sign up to the FCA’s monthly Regulatory Round-up newsletter, so they are aware of the subject matter of any videos the FCA has produced
  • Examining the information firms provide to customers at each stage of the sales process

The FCA says that one of its biggest concerns is the consumer harm that often takes place when domestic premises suppliers sell goods or services by calling at customers’ homes. In many cases, the remuneration model for these types of firms is 100% commission or sales bonuses. This could lead to potential customers being put under pressure to sign up for finance products immediately. This could be especially true when the customer has an urgent need to make a purchase, such as when a heating system breaks down.

The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


FCA examines the way the financial environment is changing as it issues the latest Sector Views document

The Financial Conduct Authority (FCA) has published its annual Sector Views study. This is an assessment of the risks and potential harm to customers that exists in seven different sectors.

The FCA believes the main risks in the retail banking and payments sector include:

  • Rising levels of financial crime
  • Service issues relating to information technology failures
  • Customers receiving poor value from overdrafts, savings accounts and other services
  • The move towards a cashless society, branch closures and the increasing use of technology could lead to some consumers having difficulties with access to financial services

The risks in the retail lending sector include:

  • Increasing numbers of people who are overly indebted
  • Barriers that make switching mortgages difficult
  • High levels of interest and charges on some types of borrowing
  • Recent failures of firms in the peer-to-peer lending market and the high cost short-term credit market
  • Increases in the number of mortgage and credit products available to consumers in later stages of their lifetime
  • More customers are choosing five-year fixed rates, and this could lead to further competitive pressures

Risks in the general insurance and protection sector include:

  • Loyal customers being disadvantaged by firms’ pricing practices
  • Misuse of customer data
  • Pressure on insurers’ profit margins caused by low interest rate
  • Increasing numbers of people living with long-term illness
  • Growing numbers of people who use price comparison sites

The risks in the pensions sector include:

  • Consumers are likely to have reduced living standards in the future due to the closure of many final salary schemes
  • Consumers are faced with a number of potentially difficult decisions about how to access their pension pot, and making the wrong decision could lead to significant losses
  • Firms advising customers to transfer out of occupational schemes, even though customers might give up valuable guarantees and take on significant risk
  • Consumers losing their retirement savings after being duped by a scammer
  • A lack of confidence in the sector, which leads to consumers either opting out of pensions altogether, or withdrawing their pension fund as cash in a single transaction
  • The increase in student debt, meaning that younger people often concentrate on repaying these loans and don’t save for retirement as a result
  • Rising numbers of complaints about Self Invested Personal Pensions, with claims management companies increasingly active in this area

The risks in the retail investments sector include:

  • Some products are exposing customers to high-risk investment vehicles that are inappropriate for their capacity for loss
  • More customers are paying for an ongoing advice service
  • Low levels of competition and switching in the investment platform arena
  • Rising numbers of complaints about ISAs, especially non-cash ISAs

The risks in the investment management sector include:

  • Consumers are struggling to compare fees and products due to poor governance practices at asset managers
  • The increasing cyber-crime threat

The risks in the wholesale financial markets sector include:

  • The increasing cyber-crime threat
  • The increasing threat of financial crime
  • The slow progress that is being made transferring from LIBOR to other interest rates
  • Deterring, detecting and pursuing market abuse are important issues in enhancing market integrity and protecting consumers

The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


Reflections on the General Data Protection Regulation, two years on

Reflections on the General Data Protection Regulation, two years on.

The implementation of the GDPR was marked in the history books as the harmonisation of Union law to protect data subjects’ rights, but nearly two years on from the regulations implementation date, it’s clear that the GDPR did little more than a simple visage for data subjects’ rights. The ICO has erred in its implementation and consultants may ignore the importance of data subject rights due to the fact the ICO is not enforcing data breaches of small-medium enterprises. The question then becomes, why be compliant with the rules when the regulator won’t enforce them?

The role of the ICO

The role of the ICO is hallmarked in recent news of protecting data subjects from the potential intrusiveness of artificial intelligence and automated decision making; although this practice is of great importance to data subjects in order to avoid biased and stereotyped decisions the ICO lacks a vision of data protection which extends beyond the confines of simply intrusive data processing.

It cannot be blamed on the ICO for lacking a vision of data protection, it is simply the tools they have been provided are not fit for purpose. Nor the GDPR or the funding the ICO has received allows them to actively protect data subjects’ fundamental rights beyond the confines of serious data breaches, usually involving criminal matters, where the latter matter takes precedence, forcing the GDPR to be used to achieve feint justice.

It cannot be understated that the ICO have levied some large fines against firms in recent months which indicates their willingness to begin focusing on deterrence of larger firms for data breaches, but how does a large breach affect the enforcement of small-medium enterprises? The ICO is not resourced enough to put in place enforcement actions against these enterprises, the ICO doesn’t see any revenue from the fining of companies and cannot easily defend claims which arise out of their fines, this has left the ICO in a vacuum of risk where they have to pick and choose what actions they take, rather than truly uphold data subject rights. However, the ICO is demonstrating this recent vigour to prosecute, it indicates their readiness to start taking enforcement of the rules seriously, and not just the breaches concerning large data sets; small to medium enterprises are increasingly being placed in the regulatory crosshairs.

The role of the consultant

Due to the GDPR’s and ICO’s limited enforcement action into things which are not intrusive data subject breaches, some compliance consultants in the industry may take a laissez-faire approach to GDPR compliance. Data subjects could suffer because consultants could be unwilling, or unprepared to aid small to medium enterprises with data protection compliance. Why enforce something the ICO won’t?

There needs to be a reimagining of the role of the compliance consultant in terms of GDPR compliance. The ICO’s, albeit slow, increasing willingness to fine the larger companies should scare consultants into acting in the best interests of their clients – getting them GDPR compliant before these enterprises are in the targeting line for ICO enforcement action.

How Scott Robert can help

Scott Robert has produced and implemented numerous GDPR projects from hospices to medium-sized enterprises, at our core is compliance, balancing risk and producing effective outcomes for our clients whilst ensuring the security and integrity of data subjects rights.


FCA director speaks about imposing fines

Mark Steward, Executive Director of Enforcement and Market Oversight at the Financial Conduct Authority (FCA), spoke about the regulator’s powers to fine firms when he spoke at the City & Financial Global Ltd event in London in February 2020.

Mr Steward began with an observation that, whilst the principal aim of fining an authorised firm is to serve as a deterrent, the FCA also has a duty to ensure customers receive favourable outcomes. He commented that the firms who paid FCA fines totalling £310 million during 2019 were also required to pay £231 million in redress, so while a firm’s initial conduct may result in customers receiving poor outcomes, the FCA can instruct firms to pay compensation to ensure the final outcome is favourable to the customer.

Furthermore, Mr Steward said that a firm which did not take steps to compensate disadvantaged customers and/or failed to address the business practices that had led to enforcement action being taken could see the amount of their fine increase. Conversely, the fine might be lower if a firm put in place a comprehensive redress scheme at the earliest opportunity, and if it launched this remediation exercise on its own initiative and without being instructed to do so by the FCA.

The FCA director then commented that most firms who receive a fine have committed a serious breach of the Principles for Business, e.g. outcome 6, which relates to treating customers fairly, and outcome 7, concerning information provided to customers.

In the next section of the speech, he listed the main areas the FCA considers when deciding the amount of a fine. These include:

  • Whether the transgression was deliberate and/or reckless
  • The length of time for which the firm’s poor conduct lasted
  • The level of monetary benefit the firm received as a result of its poor practice
  • Whether the issue indicates wider issues with the firm’s systems and controls
  • Whether the breach could impact the general economy, e.g. there could be an impact on confidence and trust in markets
  • The extent to which the breach might have facilitated financial crime

Mr Steward then highlighted that there is no maximum fine. The FCA can impose an unlimited fine on any firm.

Returning to the issue of how most fines involve breaches of the FCA principles, the FCA director used an example relating to driving a car. He said that speed limits were clearly defined rules, but that FCA principles might be similar to the high-level requirement to ‘drive safely’. Mr Steward commented:

“Taking the command to ‘drive safely’ as an example, a prudent driver will use professional judgement, having been properly trained, not only on the need to arrive on time, but on how to get there, what the relevant road rules are and what the limits of the car might be.

“A prudent driver will also know the road and maintain a contextual awareness of the conditions, the weather and the traffic. Finally, a good driver will keep an eye not only on what is in the immediate foreground but also, with knowledge of relevant data, on what may be happening around the corner, all with both hands on the steering wheel.”

Mr Steward advised firms’ senior managers to approach a business activity by using the FCA Principles as their main consideration.

The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


FOS issues Q3 data and it’s not happy reading for guarantor, payday and instalment lenders

In recent years, the Financial Ombudsman Service (FOS) has reported significant increases in the number of complaints being made about consumer credit. However, a comparison of the data for the two most recent quarters tells a slightly different story. Comparing data from the third quarter of the current financial year (October to December 2019) with the second quarter (July to September 2019), we can see that there are only small increases in the numbers of complaints being made about certain areas of the credit market, indeed complaints have fallen in some areas.

However, complaints about payday loans, instalment loans and guarantor loans continue to rise significantly.

Enquiries to FOS about guarantor loans are up 36% from the second quarter total of 392 to 535. When we look at how many of these enquiries resulted in a formal complaint, guarantor loan cases are up 76% from 172 to 303.

Instalment loan enquiries are up 24% from 4,042 to 5,022, and instalment loan complaints have risen by a massive 174% from 1,653 to 4,535.

Payday loan enquiries have fallen slightly but the number of new cases into which FOS has commenced a formal investigation rose by 56%.

When we look at the outcomes of the FOS investigations, these three areas have some of the highest uphold rates. The uphold rate on guarantor loan complaints fell from 95% in Q2 to 90% in Q3, however, this remains the highest uphold rate for any product.

The uphold rate for instalment loans rose from 72% in Q2 to 75% in Q3. Instalment loans had the fourth highest uphold rate in Q2 and the third highest in Q3.

Instalment loans have a similar uphold rate as payday loans, for which the figure was 74% in Q2 and 73% in Q3.

Point-of-sale loans are the fourth category in which FOS reports an uphold rate of more than 70% in both quarterly periods. 86% of home credit complaints were upheld in Q3, with the equivalent figure for Q2 being 61%.

Outside of consumer credit, no product area had an uphold rate above 50%.

Payment protection insurance (PPI) complaints are also significantly higher, but this is perhaps not surprising given that August 29 was the last day on which complaints could be made to firms about this product. You would then expect that many of these complaints would then be sent to FOS in Q3 (October to December 2019). Not only does PPI remain the most complained about product, but it very nearly accounted for 50% of new complaints in Q3. Third quarter complaints about this type of insurance totalled 41,510 complaints, or 49.6% of the Q3 total, and a 72% increase on the 24,073 figure for Q2.

PPI cases once had a very high uphold rate at FOS, but the uphold rate is now much lower – it was just 16% in Q2 and 17% in Q3.

Between October and December, FOS received 407 new complaints about claims management companies (CMCs). More than three-quarters (306) of these related to PPI claims, 69 to accident claims and 32 to all other areas. The uphold rate for CMC complaints in the third quarter was 44%. FOS reports that claims management complaints might concern fees, customer service and delays in processing claims. In particular, FOS says it is being contacted by consumers whose CMC failed to process their PPI claim with their bank before the deadline, meaning that their claim couldn’t be considered.


The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


FCA highlights its expectations in the credit card sector

The treatment of customers in persistent debt is the latest issue to be covered in a ‘Dear CEO’ letter from the Financial Conduct Authority (FCA).

The letter, written by Philip Salter – the regulator’s Director of Retail Lending and Claims Management – concerns how firms should handle customers whose debt problems have lasted for at least three years. As with many of the Dear CEO letters, it follows an FCA review that “identified some areas of concern where we believe there is a need to confirm our expectations.”

Many of the FCA’s rules in this area were introduced after the Credit Card Market Study’s final report in 2016.

The situations described in the letter apply whenever both of the following conditions are satisfied:

  • The customer has been in persistent debt for a continuous three-year period
  • For at least 18 months the customer has paid more in interest, fees and charges than they have paid towards reducing the principal balance on their card

Hence, a firm’s first objective is to ensure that their records allow them to identify customers who fall into these categories.

Once it has been established that the FCA’s persistent debt rules apply, then firms must help the customer to repay more quickly in a way that does not adversely affect their financial situation. The main issues the letter covers here include:

  • Firms must contact customers in persistent debt to set out a series of reasonable courses of action they could use to reduce their debt
  • Only in exceptional circumstances should a repayment period be extended beyond four years, and when it is extended, there must be no additional cost to the customer as a result
  • Firms’ communications regarding persistent debt must ask the customer to make contact to discuss their situation
  • Communications should include details of not-for-profit debt advice bodies and encourage contact with them

The letter also aims to put a stop to the widespread practice of automatically suspending a card when the customer has been in persistent debt. FCA rules only require a card to be suspended when a customer does not respond – within a reasonable and specified timeframe – to the repayment options offered by the firm; or when the customer confirms that one or more of the proposed options are affordable but that they will not make increased payments.

As there is no regulatory justification for suspension when the above circumstances don’t apply, firms should not inform a customer that the suspension of their card was due to a regulatory obligation.

Section 98A of the Consumer Credit Act 1974 forbids firms from suspending or cancelling a customer’s access to credit without informing them of the reasons for this. The reasons cited by the firm for suspending or cancelling must be objectively justified.

The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


MAPS examines the future of debt advice and launches wellbeing strategy

The Money and Pensions Service (MAPS) has launched a comprehensive ten-year wellbeing strategy, known as ‘The UK Strategy for Financial Wellbeing’, with the ambitious objectives of “transforming the lives of many individuals” and “benefitting communities, businesses, the economy and wider society.”

The definition being used by MAPS is:

“Financial wellbeing is about feeling secure and in control. It is knowing that you can pay the bills today, can deal with the unexpected tomorrow and are on track for a healthy financial future.”

The five central aims of the strategy are:

  • Financial Foundations –to increase the number of children and young people getting a meaningful financial education from the current figure of 4.8 million to 6.8 million
  • Nation of Savers – to increase the number of working age people in financial difficulty who are saving regularly. Again, the goal is to deliver an increase of 2 million people
  • Credit Counts – to reduce by 2 million the number of people who regularly use credit to pay for food or essential bills
  • Better Debt Advice: – to deliver an increase of 2 million in the numbers of people receiving debt advice. MAPS claims that only 32% of those who need debt advice are currently accessing it
  • Future Focus – the number of people who have a sufficient understanding to plan effectively for their later lives will increase by 5 million to 28.6 million

Caroline Siarkiewicz, CEO of MAPS, said:

“Financial wellbeing underpins personal health and happiness, but it doesn’t happen by chance. We’re launching a strategy for entire lifetimes, aiming to expand financial education for children while ensuring everyone is equipped to plan for and enjoy their retirement. Key initiatives include increasing the availability of affordable credit, more payroll savings products and an expansion of free debt advice for when people are in crisis.

“The Money and Pensions Service will be the catalyst for a financial wellbeing movement, transforming how people engage with their money and pensions. We have a decade to make a difference and we cannot achieve change alone, so we will be connecting companies, charities and other organisations which share our vision, to make this happen.”

Other news from MAPS in recent weeks includes:

  • The Service is exploring ways in which debt advice could be delivered through remote channels and examining upcoming trends and developments and how these might present opportunities or threats for remote debt advice
  • It is to trial a scheme where housing, mental health and ex-offender support workers would be trained as ‘money supporters’. MAPS cites previous research showing that the majority of UK adults experiencing life events such as relationship breakdowns, job loss or mental health issues do not proactively seek assistance with financial issues
  • Caroline Siarkiewicz, who has been MAPS’ acting CEO since June 2019, has now been appointed to the role on a full-time basis


The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article


Does Your Business Need FCA Compliance Assistance?

There are a lot of obligations you need to fulfil as a business owner, and it’s important to think about the legalities that come with running your own business. If you offer financial services, you must make sure your company is adhering to all the rules and regulations that it should be adhering to.

One of the key things you need to look at is whether or not your business needs to be FCA authorised. Adhering to the rules and regulations set out by the Financial Conduct Authority is crucial for any financial services business. And these are some of the reasons to seek help and assistance when attempting to comply with FCA regulations.

You Can’t Afford to Miss Anything

It is important you don’t miss anything when you are ensuring your business is compliant. The last thing you want is to miss something important and jeopardise the future of your company. You need to make sure you think about the many different components that are involved, and this might mean getting help and assistance from an expert like us.

It Can be a Complicated Process

The simple fact of the matter is that making sure your company is FCA compliant can be a complicated process. There are a lot of things that you need to make sure you sort out, and it can be a little overwhelming at times. This is why it is often a good idea to hire somebody like Scott Robert, we provide comprehensive FCA compliance services. Having a knowledgeable and well-respected professional working with you on this is invaluable.

Understand How Your Business Will Be Checked

Another reason why this is so important is because of the fact that you will have a clearer understanding of how your business is checked. Having a clearer idea about the areas of the company that will be checked gives you more opportunity to prepare your business properly.

Stay Abreast of any Changes

Compliance consultants in the UK are also important for helping you to stay abreast of any changes to the market. If the FCA updates their rules and regulations, you need to know as a business owner. But, unless you have ties to the field of finance, this might not become obvious to you in the first instance. Getting assistance can ensure your company stays compliant with the FCA even in the event of changes to regulations.

There are a lot of things that play a role in helping you authorise your business and putting you in a position to be compliant with FCA regulations. And there may well be times that you find you’re going to need to seek assistance to ensure your business is compliant. We’re here to simplify the process and can help you with any aspects of FCA compliance from initial registration to remaining compliant. Contact us for more information.


Trade association conducts forum on the future of financial advice

The Personal Investment Management and Financial Advice Association (PIMFA) recently held its 2020 Financial Adviser Forum in London. Present at the Forum were around 100 financial advisers and wealth managers.

The issues covered at the event included:

  • The growing demand for environmental, social and corporate governance (ESG) investments. These are investments that not only aim to achieve good returns, but also invest in companies that are expected have a positive long-term impact on the environment and wider society
  • How firms may need to change the way they give advice, noting that by 2030, members of Generation X and Generation Z are likely to hold 50% of the investable capital in the UK. Generation X is made up of people born in the 1960s and 1970s. Generation Z (or post-millennials) might have been born between 1995 and 2005.

After the Forum, many of the attendees went straight to the House of Commons for a reception, with the aim of ensuring that the new intake of MPs are aware of the challenges and issues affecting advisers and wealth managers. It can be assumed that the issue of Financial Services Compensation Scheme (FSCS) coverage was discussed as, only days earlier, the Association reacted with anger at plans to impose a £635 million levy.

Other issues that PIMFA discussed at the House of Commons event included:

  • The Association’s work with the Diversity and Inclusion Working party which, amongst other issues, aims to encourage young women to pursue careers in the industry; and also seeks to increase the proportion of people working in financial services who did not attend one of the major universities
  • Its partnership with the leading City social mobility charity, The Brokerage. This organisation encourages young people from various backgrounds to give them an insight into certain business sectors, and organises skills workshops and work experience

PIMFA CEO, Liz Field, said:

“As we look to the future of the sector, we must consider all areas that impact it, such as ensuring it is a desirable career option for future employees for all. In 2017, we launched our Member’s Manifesto, which highlighted the importance of access and to develop thriving markets, for us to be able to successfully reach these goals we much ensure that we’re diverse and inclusive, and reflective for the society.

“We’re also pleased to announce our intention to work with our members on two key areas; increasing inclusive recruitment and improving recruitment and career opportunities for women and girls. Diversity and inclusion are key components for success in the future for client engagement and retention, and we are committed to creating and supporting industry initiatives that encourage and improve D&I within the sector. Embedded within the values and ethos of PIMFA is the desire and need to work in collaboration with other organisations across a range of industries, such as The Brokerage.”


The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article



Credit reference agency calls for more financial education following its survey

TransUnion, one of the largest credit reference agencies, has published a report looking at current trends in the UK credit sector.

The company’s UK CEO, opens his foreword by warning credit firms that they need to build trustworthy relationships with their customers, and that if they do not, customers will have no hesitation in complaining about the way their personal data has been handled.

TransUnion commissioned two surveys during 2019. Each survey covered 2,000 adults in different areas of the UK. The main findings of the surveys were:

  • One person in nine (11%) said they would not be able to maintain their current lifestyle if they were unable to borrow on their credit card
  • Banks that only have an online presence are now attracting considerable new custom. Around one in eight (13%) of participants said they were likely to open a current account with a high street bank in the next 12 months, while as many as 10% said they would open an account with an online-only bank or a banking app. Almost one-third (32%) already have an account with one of these tech-based banks
  • Just over one-third (38%) said they did not know what their credit report contained, while almost one in four (22%) say they don’t understand the approval process used by lenders. When asked if applying for a mortgage requires a credit check to be carried out, more than one-fifth (21%) either said they thought there was no credit check or said they didn’t know if a check would be conducted. TransUnion uses these statistics to call for improved financial education
  • Echoing what Mr Saha said in the foreword, 36% of respondents said trust is an important factor when selecting a finance provider. This might affect competition, with new entrants struggling to build a trustworthy reputation, although the survey shows that younger adults are much more inclined to trust online-only lenders
  • Less than half (44%) said they felt in control of their finances, and more than half (53%) of the 18 to 24 age group said they were not on track to achieve their financial goals
  • Another significant minority (39%) said they would be unable to cope with a financial emergency
  • The credit card market continues to grow. In 2014, an FCA survey revealed three in five (60%) of UK adults had a credit card, but the new TransUnion figures show this has risen to almost three-quarters (74%). Two in five (40%) have two or more cards
  • While 74% have a credit card, the proportion having the following credit accounts was:
    •  Overdraft – 43%
    • First charge mortgage – 38%
    • Car finance agreement – 24%
    • Retail finance – 20%
    • Unsecured personal loan – 18%
    • Loan from a relative – 17%
    • Secured loan – 16%
    • Payday or other short-term loan – 11%
    • Guarantor loan – 9%
  • New entrants are increasing their share of the credit card market, but the sector is still dominated by the four largest firms
  • Almost one-third (32%) said they had never applied for a mortgage. The media often suggest that this is due to younger people struggling to accumulate enough savings to pay a deposit, and 27% mentioned this; but almost as many (25%) did not believe they earned enough to service the likely mortgage repayments. Almost half (48%) of 25 to 34-year olds do not have a mortgage
  • Despite external issues such as Brexit, almost two-thirds (62%) expect their financial situation to remain stable in the next 12 months; and more than half (53%) say they can see how they might be able to improve their financial situation


The information shown in this article was correct at the time of publication. Articles are not routinely reviewed and as such are not updated. Please be aware the facts, circumstances or legal position may change after publication of the article

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