FCA Sharpens Focus on Consumer Duty Compliance Amid Rising Credit Use for Essentials
As financial pressures mount for many UK households, the Financial Conduct Authority (FCA) is intensifying its oversight of banks and…
Rise in Personal Insolvencies Points to Lingering Financial Strains
The latest figures released by the Insolvency Service for England & Wales highlight a concerning uptick in personal insolvencies, with…
Inflation falls to lowest level in nearly 3 years- Business and Consumer Credit Sectors Reactions
The latest Consumer Prices Index (CPI) data from the Office for National Statistics (ONS) has revealed that inflation fell to…
The Debt Dilemma: 25% of UK Adults Turn to Loans for Basic Necessities
In recent findings by YouGov for StepChange Debt Charity, an alarming trend has surfaced: one in four UK adults, or…
Credit Card Rates Rise
Over the last ten years, credit card interest rates have soared disproportionately compared to the Bank of England’s base rate,…
Consumer Finance Declines 4% in March
March 2024 has seen a 4% drop in new consumer finance business compared to the same month last year, according…
Business Lending Set to Surge in 2025: A Look at Future Economic Recovery
The trajectory of bank-to-business lending in the UK is set for a notable turnaround. After a modest increase of 0.5%…
UK Exits Recession with GDP Growth – Business Industry Reacts
The latest data from the Office for National Statistics (ONS) reveals that the UK economy grew by 0.6% between January…
Interest Rates Remain at 5.25% – Consumer Credit Industry Reaction
The Bank of England has opted to hold the base rate steady at 5.25%, marking the sixth consecutive meeting where…
Consumers Are Cutting Costs in Record Numbers
In the aisles of grocery stores across the nation, a significant shift is underway. According to recent analysis by Barclays,…