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The Latest Breaking News from Sheldon Mills

New rules proposed to strengthen protections for struggling borrowers

The Financial Conduct Authority is proposing to make requirements for lenders that were put in place during the pandemic permanent.

The Independent UK

More than 10 million UK adults struggling with bills and credit repayments

Number admitting to struggle grows by 3 million in one year

The Independent UK

More than 10 million UK adults struggling with bills and credit repayments – FCA

Around 5.6 million adults were estimated to have missed bills or loan payments in at least three of the previous six months, the FCA said.

The Independent UK

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Measures to reduce risk of money laundering via Post Office set out

It is estimated that hundreds of millions of pounds is laundered each year through the cash deposit channel at the Post Office.

The Independent UK

Firms must act now to deliver new consumer duty, says FCA boss

The duty will set clearer and higher standards of consumer protection across financial services.

The Independent UK

Insurers warned they must offer fair settlements when cars are written off

The Financial Conduct Authority has seen evidence some people are being offered a price lower than the vehicle’s fair market value.

The Independent UK

FCA to examine how to regulate big tech’s financial services

Firms such as Apple, Google and Amazon could harm competition in UK’s sector, Financial Conduct Authority says

The Guardian - UK

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Six in 10 UK adults struggling to keep up with bills – City regulator

Around 31.9 million people, or 60% of UK adults, were estimated to be finding it a heavy burden or somewhat of a burden, FCA research found.

The Independent UK

FCA updates guidance for banks considering branch or ATM closures

The industry must make sure they are supporting people and businesses who rely on cash and banking services, the Financial Conduct Authority said.

The Independent UK

Proposals to reform flats insurance market set out by City regulator

The FCA will will consult on measures to improve transparency for leaseholders about the price of their insurance.

The Independent UK

‘Equality is personal for me’: UK watchdog frontrunner faces whispering campaign

Sheldon Mills, the crusading lawyer and chair of Stonewall, is being targeted over trans issues as he runs to lead the Competition and Markets Authority

The Guardian - UK

Bosses at City firms could face fines for failing to prioritise consumers

FCA’s new rules are expected to help reduce call wait times, end rip-off charges and make it easier to change investments

The Guardian - UK

Financial watchdog urges consumers struggling with rising prices to seek help

Sheldon Mills, executive director of consumers and competition at the FCA, told the PA news agency the organisation and lenders have to be proactive.

The Independent UK

Firms should not be exploiting cost of living crisis in marketing, warns FCA

The regulator has written to nearly 28,000 consumer credit firms, warning them not to use terms such as ‘no credit checks’ and ‘loan guaranteed’.

The Independent UK

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The Independent UK

More can be done to analyse ‘poverty premium’, says FCA boss

More can be done to see the effects of the premium in areas such as insurance and access to banking, Sheldon Mills told the Treasury Committee.

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