MoneySavingExpert News

Financial Conduct Authority

London Capital & Finance investors given compensation hope under new Government scheme

London Capital & Finance (LCF) investors have been given compensation hope after the announcement that HM Treasury will set up a scheme for those who lost money when the bond firm went bust. It comes as a damning report reveals the firm hadn't been effectively supervised by the financial watchdog

17 December 2020

Barclays fined £26m for failing 1.5 million customers in financial difficulty - and borrowers have been refunded

Barclays has been fined £26 million by the financial regulator over the poor treatment of 1.5 million borrowers who had fallen into arrears or financial difficulties over a period of four years - and affected customers have also been refunded

15 December 2020

Regulator proposes 'tailored support' for mortgage holders once payment holidays end

The Financial Conduct Authority has said firms should consider a range of support options – including waiving or reducing payments – under new proposals to help mortgage customers who are still struggling once coronavirus-related payment holidays end on 31 October 2020

26 August 2020

Regulator to ban interest rate-linked car finance commission

The financial regulator has announced it will ban commission models that give car finance dealers an incentive to raise customers’ costs from next year

28 July 2020

Insurers set to offer payment holidays and premium reviews until October

Measures introduced to help insurance customers struggling during the pandemic are set to be extended until the end of October

24 July 2020

Car finance and high-cost credit payment holidays extended

The financial regulator has confirmed further measures to support borrowers struggling to make payments on car finance deals, buy-now-pay-later agreements and other credit products due to the coronavirus pandemic, with many able to get another three-month payment holiday if needed

15 July 2020

Payment holidays and premium reviews confirmed for insurance customers struggling due to coronavirus

The financial regulator has confirmed it will introduce measures to help insurance customers struggling during the coronavirus pandemic – meaning insurers will need to assess whether they can change what's covered to offer customers lower premiums. Insurers may also be expected to offer customers payment holidays of up to three months

14 May 2020

London Capital & Finance investors to start getting decisions on compensation claims this month

Investors who lost £1,000s with the collapsed bond firm London Capital & Finance (LCF) will start hearing whether they're eligible for compensation for claims related to misleading advice later this month

5 May 2020

Regulator warns lenders against suspending credit cards for all those in persistent debt

The financial regulator has written to credit card firms telling them to review how they treat customers in 'persistent debt'

3 February 2020

Minister considering extending regulation to help mortgage prisoners

Treasury Minister John Glen has said that he is willing to consider extending the limits of the financial regulator's powers to help more 'mortgage prisoners' who are stuck on expensive deals with unregulated lenders and lenders that no longer offer new mortgages

28 January 2020