Support to continue for credit and overdraft customers

Support to continue for credit and overdraft customers

Consumers still facing financial difficulties should still be protected after payment holidays on credit cards, personal loans and overdrafts end on October 31st says Britain’s financial watchdog. Draft guidance for lenders issued by the Financial Conduct Authority (FCA) warns banks and other lenders not to pursue customers who are still struggling once the period of …

Three year investigation launched into consumer investments

Three year investigation launched into consumer investments

Britain’s financial watchdog has launched a three year investigation into consumer investments following ‘too many scams and scandals’. The Financial Conduct Authority (FCA) believes a fundamental review of the market is needed and has asked the industry for its co-operation in the investigation. Call for input Issuing its ‘call for input’ the regulator says the …

Less than 7% of pension scams sent to police for investigation

Less than 7% of pension scams sent to police for investigation

A Freedom of Information (FOI) request has revealed that less than 7% of reported pension frauds were passed to police for investigation in 2019. Wealth management experts Quilter found that just 6.6% of cases were forwarded for investigation and is now calling for financial harms in the Online Harms Bill going through parliament. Extremely complex …