New FCA chief says financial promotions will be a priority area
Officially, Nikhil Rathi’s appearance at the Treasury Select Committee was a chance for his appointment as FCA chief executive to be formally approved. In reality, the session was a chance [...]
FCA sets out key risks affecting the debt advice sector
With so many consumers having been affected by coronavirus, demand for debt advice is set to increase dramatically. With this increase in demand comes increased risks, so what do firms [...]
‘Triple whammy’ of FCA, FOS and Covid pushes guarantor lender to the brink
Faced with a massive increase in the cost of paying compensation on its upheld complaints, together with the possible costs of an FCA investigation and the far-reaching consequences of the [...]
Payment deferrals hit 1.7 million
As the financial effects of coronavirus continue to bite, loan and credit card providers have little choice but to continue providing interest-free overdrafts and payment deferrals and freezes to their [...]
Payday lender forced to write off £500,000 after failing to send statements as required
A payday lender has been forced to write off £527,863 after failing to send statements as required to 15,218 customers over a 12-month period. These borrowing statements need to be [...]
FCA wants to hear from firms who can assist mortgage prisoners
The issue of ‘mortgage prisoners’ – people who are trapped on unfavourable mortgage deals – has certainly attracted considerable publicity in recent years. The Financial Conduct Authority has now invited [...]