Pandemic leaves millions financially vulnerable: FCA

first_img Related news James Langton Keywords Pandemics,  Coronavirus,  Financial reliefCompanies Financial Conduct Authority “Since the start of the pandemic, the number of people experiencing low financial resilience or negative life events has grown,” said Nisha Arora, director of consumer and retail policy at the FCA, in a release.“The pain is not being shared equally with a higher than average proportion of younger and (racial minority) adults becoming vulnerable since March,” she noted.The FCA reported that the number of adults with excessive debt, low savings, erratic earnings and other forms of “low financial resilience,” jumped from 10.7 million to 14.2 million in 2020.At the same time, the regulator found that almost half ( 48%) of adults have not been affected financially by Covid-19, and that 14% have seen their financial situation improve during the pandemic.“Vulnerability remains a key focus for the FCA, and has been brought into sharp relief by the pandemic. We continue to work with the wider financial services sector, including businesses, regulators and government to support and protect consumers. We expect to finalise our guidance on how firms should treat vulnerable customers shortly,” Arora said. Share this article and your comments with peers on social media Fed keeps key rate near zero, sees inflation as ‘transitory’ stressed young couple worries about their finances ocusfoucus/123RF Regulators aim to root out pandemic-driven liquidity issues Facebook LinkedIn Twitter The disruptive economic effects of the Covid-19 pandemic has pushed millions of people in the U.K. into financially vulnerable situations, according to new research from the U.K.’s Financial Conduct Authority (FCA).The latest edition of a survey by the FCA finds that 27.7 million adults in the U.K. are at greater risk of harm due to vulnerabilities such as low financial resilience and negative life events. This was up from 24 million prior to the pandemic. Singapore’s financial regulator invests in innovationlast_img read more

Torosis talks local rent control

first_imgHomeNewsCity CouncilTorosis talks local rent control Oct. 25, 2016 at 1:30 pmCity CouncilTorosis talks local rent controlGuest Author5 years agocaroline torosiscity councilelectionrent controlSanta Monica City Councilsanta monica daily presssanta monica electiontorosis Meet the Candidates of this years Election“I think there is a lot that could be done at the local level, we really need to ensure that we are maintaining and returning local control to Santa Monica to make decisions about when units can be removed from the rental market.” – Caroline TorosisEveryday this week from Oct. 24 –Oct. 28 the Santa Monica Daily Press will post a video of candidates that came forward to express their ideas regarding Santa Monica. Every candidate has a different question. The video will range from 2-4 minutes. Meet the candidates of this year’s election. Don’t forget voting is Nov.8.Tags :caroline torosiscity councilelectionrent controlSanta Monica City Councilsanta monica daily presssanta monica electiontorosisshare on Facebookshare on Twitteradd a commentSion Roy talks Santa Monica students, and facultyFoster talks landlords and rent controlYou Might Also LikeFeaturedNewsCity opens application process to fill McKeown’s vacant council seatClara Harter6 days agoFeaturedNewsCity and Coalition settle legal battleBrennon Dixson3 weeks agoFeaturedNewsCity leaders talk riots, report and moreBrennon Dixson4 weeks agoFeaturedNewsCouncil readies for Tuesday meetingBrennon Dixson1 month agoCity CouncilFeaturedNewsSanta Monica releases riot reportBrennon Dixson1 month agoCity CouncilFeaturedNewsCouncil appoints new public safety commissionersBrennon Dixson1 month agolast_img read more