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The Latest Breaking News from David Geale

Contactless card payments could become unlimited under plan to scrap £100 cap

The Financial Conduct Authority announced plans to scrap the £100 cap on contactless card payments

The Independent UK

UK contactless payments could go above £100 or become unlimited

Financial watchdog says proposals to allow providers to set own limits would be more convenient for shoppers

The Guardian - UK

First-time buyers and retirees set to gain from possible mortgage rule changes

The Financial Conduct Authority has launched a discussion paper

The Independent UK

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First-time buyers and retirees ‘could gain from possible mortgage rule changes’

The Financial Conduct Authority has launched a discussion paper on the potential benefits and risks of changing mortgage rules.

Evening Standard

‘High proportion’ of APP scam victims getting their money back under new rules

The policy launched last October has been successfully implemented and more consumers have been protected, a Payments Systems Regulator boss said.

Evening Standard

UK preparing to ban consumers from buying crypto with borrowed funds

Soaring cryptocurrency values after Trump election has put pressure on financial regulator to take tougher line

The Guardian - UK

Staff at payments watchdog ‘told on Tuesday that organisation will be abolished’

Boss David Geale told MPs he is ‘hugely proud’ of how staff at the Payment Systems Regulator reacted, having been briefed on Tuesday.

Evening Standard

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Bank transfer fraud reimbursement limit set to be cut under new plans

The limit, which is due to come into force from next month, could be reduced from £415,000 to £85,000.

The Independent UK

APP fraud reimbursement ‘still largely depends on who victims bank with’

The Payment Systems Regulator has published authorised push payment scam reimbursement figures for banks and building societies.

The Independent UK

FCA: One in 10 interest-only mortgage holders may be ‘overly optimistic’ on debt

The Financial Conduct Authority said people should discuss options with their lenders.

The Independent UK

Risks and opportunities from green mortgages highlighted by FCA boss

Green mortgages can play an increasingly significant role in helping borrowers reduce emissions from their homes, according to the FCA’s David Geale.

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