Industry Insights

The FCA’s Mills Review arrives at a pivotal moment, asking not whether AI belongs in retail finance, but how we, as regulated firms and technology partners, can integrate it safely and transparently within established frameworks.

A recent Scottish court case involved whether or not any deduction in sums to be returned to customers should be made for use of a car where the car is ultimately rejected by the customer.

Artificial intelligence is increasingly being used across financial services to manage customer interactions and streamline internal processes. In consumer credit, where firms communicate with customers about borrowing, repayments, and financial difficulty, AI tools have the potential to improve both efficiency and clarity. As AI adoption increases, firms must ensure these technologies are used responsibly within a regulatory environment shaped by …

The implementation phase of Consumer Duty is over. What we are seeing now is something more probing, more data-driven and significantly more outcomes-focused. For consumer credit firms, the message from the Financial Conduct Authority is clear: the FCA is no longer asking whether firms have implemented the Duty, it is asking whether customers are genuinely better off as a result. …

The rise of financial influencers, or “finfluencers”, is widening access to financial education but can also expose consumers to bad advice, fraud and financial harm. Finfluencers can be a powerful force for good. They bring financial education to a mass audience with a reach that traditional programmes may not have achieved. Content on platforms such as TikTok, Instagram and YouTube …

Following the publication of the FCA’s motor finance consultation paper (CP25/27) in October 2025 and the consultation closing on 12 December 2025, the regulator has confirmed that it will set out its approach on motor finance redress shortly after markets close on Monday 30 March 2026. In a previous update on 4 March 2026, the FCA also outlined planned changes …

So it’s the middle of March 2026. Were we expecting the policy statement from the Financial Conduct Authority (the FCA) on a motor finance consumer redress scheme by now? Yes. Do we have it? No. The FCA’s latest murmurings are that it will publish the scheme by the end of March 2026. So, for now, we wait. But given the …

The debate around discretionary commission arrangements (DCAs) in motor finance has developed rapidly over the past year, with regulatory scrutiny, legal developments and the FCA’s ongoing work on a potential redress scheme bringing increased focus to the sector. Final decisions on any compensation scheme have not yet been made. However, the regulator has begun outlining how a redress scheme could …

The regulatory landscape for motor finance is shifting rapidly. Following the Financial Conduct Authority’s (FCA) latest update on 4 March 2026, the industry now has a much clearer view of the road ahead. With final rules expected in late March, the focus has shifted from hypothetical planning to urgent operational implementation.

Lantern Group today announced that it has agreed to acquire Ascent, one of the UK’s largest specialist debt recovery law firms, from Irwin Mitchell, subject to regulatory approval. The acquisition expands Lantern Gorup’s portfolio, with Ascent joining Lantern and Sonex. Irwin Mitchell’s strategy is to focus on growing its core legal services for individuals and businesses such as complex personal …

Lantern Group, a leading UK debt management and financial services company, has announced three strategic senior appointments as part of its commitment to growth, innovation and customer-centric service delivery. The company welcomes Charlotte Symonds as Chief Operating Officer, Charmaine Bonnaire as Director of Partnerships, and Scott Forster as Head of Brand and Communications.

It wasn’t until late 2024 that UK fraud leaders began taking notice of the rise of synthetic identity fraud – until then it had been an unrecognised threat, with most organisations lacking monitoring and reporting insight. However, in the US, synthetic identity fraud has been surging, with estimated exposure of $3.1 billion across sectors in 2024.