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Found 7 results

  1. Tougher laser misuse laws come into force READ MORE HERE: https://www.gov.uk/government/news/tougher-laser-misuse-laws-come-into-force
  2. New tougher electrical safety standards to protect private tenants READ MORE HERE: https://www.gov.uk/government/news/new-tougher-electrical-safety-standards-to-protect-private-tenants
  3. http://news.sky.com/story/tougher-fines-to-hit-serious-speeding-offenders-in-the-pocket-10740681
  4. CEOs of companies which fail to prevent problems with data security following cyber attacks face having part of their pay withheld under proposals outlined by a committee of MPs, which has also called for disclosure of data protection strategies in annual reports The Select Committee report recommended: Making advice on claiming compensation more readily available. Solicitors to provide advice to data breach victims Checking if existing measures are adequate. Clearer upfront info on cancelling contracts in the event of a data breach. Fines for companies that fail to guard against cyber hacks https://www.cchdaily.co.uk/mps-propose-tougher-ceo-sanctions-over-data-security-breaches The Select Committee's full report is here: www.publications.parliament.uk/pa/cm201617/cmselect/cmcumeds/148/148.pdf
  5. Don't know how these were missed. http://www.fca.org.uk/news/tougher-rules-for-payday-lenders-take-effect
  6. Payday lender Wonga tells MPs it may use debt collection agencies to chase errant borrowers. Customers who have taken on expensive payday loans could soon find themselves harassed by debt collectors if they are unable to pay back these debts. Wonga, one of the biggest payday lenders, told MPs yesterday that it was considering using debt collection services in future, and aimed to start a trial shortly. The lender has arranged more than one million loans over the past five years. Payday lenders arrange smaller short-term loans for customers, which can be approved within 15 minutes. Due to the size of the loans there are often less stringent credit checks that those imposed by high street banks for credit cards and overdrafts. However, this controversial business, which has boomed in recent years, has come under fire for the high interest rates charged, particularly to customers who fail to pay their loans back within the original term. Wonga, for example, will charge an interest rate equivalent to an APR of 4,200pc if customers borrow money over a year. Link: http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/9808188/Wonga-to-get-tougher-on-bad-debtors.html
  7. The Government is to give the Office of Fair Trading (OFT) new powers to suspend a consumer credit licence with immediate effect. It follows outrage from consumer groups after companies that have been censured for breaking the rules are allowed to continue operating. The most high-profile case was Yes Loans, which charged would-be borrowers up to £70 for loans that they would never be offered. The new measure will help the OFT clamp down on rogue companies that provide any goods or services around credit, lend money, collect debts or help people with debt problems – like payday lenders and debt management firms. The new power, which will come into effect in early 2013, allows the regulator to act fast when consumers need urgent protection. The move, announced by Consumer Affairs Minister Norman Lamb and the Financial Secretary to the Treasury Mark Hoban, comes in response to growing concerns that these rogue firms can continue trading despite the decision to revoke their licence being a clear indication that the regulator thinks they are unfit to operate. Currently the OFT has the power to suspend or revoke a consumer credit licence, but businesses can appeal this decision and can continue to trade during the appeal period, which in some cases can last up to two years. Read more: http://www.dailymail.co.uk/money/news/article-2176054/OFT-gets-power-clamp-rogue-credit-firms-payday-lenders.html#ixzz21BKGWqVZ
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