Debt Judgments Leap Court debt judgments have increased by 33%, to 843k, Registry Trust suspects rising difficulty among banks and creditors to recover unpaid debts on credit cards, personal loans and mortgages 30.03.07 Daily Mail, Debt Collection
Paying for Financial Compensation Investment banks 'furious' that Financial Services Authority (FSA) wants them to contribute to consumer compensation, including them in 'pool of last resort' in Financial Services Compensation Scheme (FSCS), critics say wholesale sector benefits from general stability of UK financial market 28.02.07 Times, Consumer Rights, Financial Services, Financial Services Authority
Banks to Sue Retailer for Data Theft A class action is being brought by banks whose credit cards are affected by mass theft of data from TJX, US parent of TK Maxx, claiming 'tens of millions of dollars' in damages, represents almost 300 banks 30.04.07 Eversheds, Data Protection, Retail Law
CC Issues Statement on PPI Competition Commission (CC) published the issues statement in its payment protection insurance (PPI) inquiry on 12 April 2007, standard procedure, sets out the questions and areas the CC believes are relevant in deciding whether any feature of the marketfor PPI restricts, distorts or prevents competition 12.04.07 Law Now, Competition Law, Financial Services, Insurance, Payment Protection Insurance
Poor Procedure Among Mortgage Advisers Financial Services Authority (FSA) today called on firms giving mortgage advice to improve their processes after new findings showed that only one third of the firms it sampled had robust processes in place to provide customers with suitable advice 08.01.07 FSA Press Release, Copyright, Financial Services
Crackdown on Illegal Lending Treasury to provide specialist enforcement teams to tackle illegal money lending, complement to govt strategy of increasing the availability of affordable and appropriate sources of credit for those suffering from financial exclusion 04.12.06 HM Treasury, Consumer Rights, Criminal Justice
VAT on Credit Handling Services HMRC has revised policy on the VAT liability of credit and debit card handling services supplied by agents, following the end of litigation in the cases of Bookit Ltd (Bookit) and Scottish Exhibition Centre Ltd (SEC) 03.11.06 HMRC Business Brief, UK Tax, VAT
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