According to the lawsuit, the bank has failed to adequately deal with disputes arising with its credit cards. Customers were not informed of any billing errors, and those who have filed claims for billing errors or misuse of cards have been automatically rejected. The Bank has violated TILA, CARD Act, FCBA, and CFPA as a […]
Author: Akbar Lashari
Campaigners For Mortgage Prisoners Pen A Strong Letter To PM Boris Johnson
The open letter has asked for the Prime Minister’s attention to the mortgage debt problems being faced by thousands in the UK. The letter comes after a meeting between UK Mortgage Pensioners campaign group and Treasury’s economic secretary did not satisfy the former about adequate action on the government’s part. Thousands of UK citizens are […]
Consumer Loan Provider LendUp Has Given Out More Than $2 Billion In Loans
This marks an important milestone for the lender, which has been on a growth trajectory since opening doors to the public in 2012. LendUp is offering financial education and affordable loans to its customers in an effort to increase the financial inclusivity of the American middle class. More than $2 billion has been given out […]
Report Reveals UK Financial Firms Not Prepared Enough To Tackle Climate Change Risks
A survey conducted by Odgers Berndtson has revealed that most financial firms don’t have a solid plan in place to tackle various risks coming from climate change. Climate change risks include a change in the valuation of global assets and a shift in investments, especially in fossil fuels and other carbon-emitting ventures. A new report […]
Wonga Claimants To Receive Only 4.3% As Compensation
Claimants and experts have voiced disappointment over the decision as around 400,000 claims would receive only 4.3% of the claimed amount. Wonga went out of business in 2018 after the FCA cracked down on the firm due to its predatory lending practices. Wonga, a payday lender in the UK that was once very popular in […]
New Changes Inside Consumer Financial Protection Bureau Could Leave Consumers Vulnerable
Policy changes enacted on the 24th of January could encourage financial firms to indulge in abusive practices with their customers. Experts believe the changes have reduced the effectiveness of the CFPB in enforcing rules that protect consumers around the US. Changes come at a time when experts have already observed a reduced enforcement activity at […]
UK Banks Issued Two-Weeks Notice By FCA To Explain Hike In Overdraft Rates
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Guarantor Loan Provider Amigo Is Up For Sale, Amid Increased FCA Regulation And Customer Complaints
Amigo, the largest guarantor loan provider in the country, has initiated formal sale proceedings. This decision comes at a time when the FCA has placed additional regulatory requirements on the business to protect guarantors, and also when Amigo is experiencing a drastic increase in the number of complaints it receives from its customers. Amigo, a […]
Mortgage Approval Rates In The UK Highest Since 2009
A total of 982,286 applications for mortgage loans were approved in 2019. This figure is also the highest since 2009 when mortgage loan approvals amounted to 986,742 applications. Experts believe the jump in approval rates comes mostly from the fall in mortgage rates during the second half of 2019. According to reported figures, the number […]
More Britons Fall Prey To Debt Troubles After Subscribing To ‘Buy Now, Pay Later’ Services
The popularity of ‘buy now, pay later’ services has caused an increase in the number of people subscribing to this debt option. Experts believe the underregulated industry is not doing enough to protect people from taking on more debt than they can afford. The number of firms operating in the UK offering ‘buy now, pay […]