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Peer2Peer Finance News | July 21, 2019

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Andrew Bailey

82pc of UK workers seek costly credit between paydays

July 11, 2019 |

A NEW report has found that workers in the UK are financially worse off than they were in 2018, with more than eight in 10 using high-cost credit to see them through to payday.

According to new research by Hastee … Read More

City watchdog signals increased scrutiny of P2P sector

June 28, 2019 |

THE FINANCIAL Conduct Authority (FCA) may take enforcement action over the collapse of Lendy and is considering how to monitor the Innovative Finance ISA (IFISA) market more effectively.

The revelations came out of a Treasury Select Committee hearing with FCA … Read More

Consumer over-indebtedness highest in London – FCA

June 20, 2018 |

THE PROPORTION of adults who are over-indebted in London is higher than in the rest of the UK, research shows.

The Financial Conduct Authority’s (FCA) Financial Lives survey found 17 per cent of Londoners are over-indebted, compared with the UK … Read More

FCA unveils overdrafts crackdown

May 31, 2018 |

BANKS and consumer credit providers may have to set up mobile alerts to warn customers of impending overdraft charges as part of a clampdown on high-cost finance.

The Financial Conduct Authority (FCA) has unveiled a package of measures aimed at … Read More

Consumer credit regulation “largest” challenge FCA has faced

February 27, 2018 |

THE FINANCIAL Conduct Authority (FCA) has urged consumer credit firms to ensure their lending is “affordable and sustainable” as its boss described taking over regulation of the sector as the City watchdog’s biggest challenge to date.

Andrew Bailey (pictured), chief … Read More

FCA consults on widening SME access to Ombudsman

January 22, 2018 |

CITY watchdog the Financial Conduct Authority (FCA) has launched a consultation on whether to give more small firms access to the Financial Ombudsman, making it easier for them to resolve disputes without going to court.

The Financial Ombudsman … Read More

Charles Randell named FCA chair

January 5, 2018 |

A FORMER lawyer who advised the government in the bailouts of Northern Rock, Royal Bank of Scotland and Lloyds has been appointed as the next chairman of the Financial Conduct Authority (FCA).

Charles Randell CBE (pictured) will take the role … Read More

FCA uses P2P as example of balancing competition and innovation

December 11, 2017 |

THE FINANCIAL Conduct Authority (FCA) has cited its regulation of peer-to-peer lending as an example of its approach to balancing competition and innovation.

The City watchdog has launched two consultation documents to seek views on how well its approach to … Read More

Fintech ‘must not lessen consumer protection’

November 6, 2017 |

FINTECH is creating more efficient ways of borrowing and investing, but this must not be at the expense of consumer protection, the Financial Conduct Authority (FCA) has suggested.

The comments form part of the City regulator’s ‘Mission’, a series of … Read More

FCA identifies low P2P usage but fewer signs of consumer vulnerability

October 18, 2017 |

JUST 1.4 per cent of the adult population are using peer-to-peer lending or crowdfunding but the product has among the proportionally lowest levels of financially vulnerable customers, figures from the Financial Conduct Authority (FCA) suggest.

The data is revealed in … Read More