ABCUL issues briefings on developments that may impact the credit union sector. A full list of our briefings can be found below:
Member Briefing: FCA Consultation CP26/11 – FCA Regulated Fees and Levies 2026/27 The Financial Conduct Authority (FCA) has published Consultation Paper CP26/11 proposing its regulatory fees and levies for the...
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The Financial Conduct Authority (FCA) have published consultation paper (CP) 26/7: Credit Information Market Study: Proposed approach to implementing FCA remedies. The CP sets out the FCA’s proposals to improve...
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Input Request: National Lottery Community Fund – Scottish Dormant Assets Funding Overview The National Lottery Community Fund has launched a Call for Input to help develop new funding programmes...
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1.DWP and PSFA Recovery Regulations Consultation The Department of Work and Pensions (DWP) and the Public Sector Fraud Authority (PSFA) are consulting on the Public Authorities (Fraud, Error and Recovery)...
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Overview of PS26/2: What the FCA Is Changing and Why It Matters PS26/2 sets out the final rules from the FCA, developed jointly with the PRA and the Bank of...
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HM treasury has published their credit union common bond reform call for evidence response. The response has confirmed several significant changes to the credit union common bond. Key themes: Credit...
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The Government consulted on proposals to reform the Financial Ombudsman Service (FOS) between July and October 2025 and has now published its response. ABCUL welcomes the publication of this response...
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CP 26/9 Modernising the Redress System Member Briefing + Finalised Guidance (FG26/2) The Financial Ombudsman Service (FOS) and Financial Conduct Authority (FCA) have published their joint consultation paper on Modernising the Redress System. The consultation sits as part of wider...
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Use of Digital Identities under the Money Laundering Regulations (MLRs) HM Treasury’s approved guidance aligns the UK Digital Identity and Attributes Trust Framework with the Money Laundering Regulations 2017 (MLRs)....
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HM Treasury has published its consultation on the Appointed Representatives Regime. The consultation closes on 9 April 2026, exploring proposed reforms to the Appointed Representatives (AR) regime. In August 2025,...
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The FCA have published their feedback to Consultation Paper CP25/23 and final rules on the regulation of Deferred Payment Credit (DPC). On 14 July 2025, the Government made legislation to...
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The PRA has published its policy statement, PS5/26, providing feedback to responses received to CP13/25, Credit Union Service Organisations (CUSOs) consultation, and next steps. The PRA has set out the...
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Fair 4 All Finance has published its Credit Union Transformation Fund Consultation. This consultation sets out targeted questions to inform how the credit union transformation fund can be used to...
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ABCUL have analysed and collated the latest statistics published by the Bank of England on the credit union sector for the third quarter of 2025. The Bank of England statistical...
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Update: The CIGB have now published their subscription contract. We encourage you to read all the Policies and Terms of Reference. The documents can be accessed below: Subscription When applying...
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F4AF have published their consultation looking for ideas and suggestions in designing new funding programmes and workstreams. This consultation runs until 5pm on Friday 30 January 2026. The Credit Union...
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FOS Plans and Budget Proposal 2026/27 Member Briefing The Financial Ombudsman Service (FOS) has released a consultation on its plan and budget for 2026/2027. This consultation proposes the FOS’s fees...
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Update: Evolving our funding model consultation feedback update Following the ‘Evolving our funding model’ consultation, the FOS plans to implement billing simplification proposals from April 2026. Key changes for credit unions have been...
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Mutuals Landscape Report 2025 – Member Briefing The Mutuals Landscape Report 2025, published by the PRA and FCA, sets out the current position of the credit union sector and outlines...
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The Prudential Regulation Authority (PRA) has written to all Category 4 credit unions (<£50m in assets) to reinforce expectations around operational risk and resilience, with a focus on critical third...
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PRA Annual Assessment Letter for Credit Unions under £50 million assets (CAT4) November 2025 The Prudential Regulation Authority (PRA) has published its Annual Assessment of the Credit Union Sector for credit...
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Data Use and Access Act 2025 Guidance The Data Use and Access Act 2025 (DUAA) will implement changes to be phased between June 2025 and June 2026 – so not...
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Financial Services Compensation Scheme – Outlook November 2025 The Financial Services scheme has published its annual Outlook for November 2025, to provide an update on the current levy year and...
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HM Treasury has published its Financial Inclusion Strategy. Below highlights key developments within the credit union sector Financial Inclusion Strategy – Key Developments within the Credit Union Sector Access to...
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ABCUL have analysed and collated the latest statistics published by the Bank of England on the credit union sector for the second quarter of 2025. The Bank of England statistical...
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The government’s published Dormant Assets Scheme Strategy has allocated £132.5m in dormant assets to support financial inclusion through Fair4all Finance. This includes funding to help build financial capability. This will...
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Chapter 3 – Mutuals registration function removal of statutory declarations Overview The FCA has published its CP 25/24 Quarterly Consultation No. 49. ABCUL has prepared a member briefing for Chapter...
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ABCUL have analysed and collated the latest statistics published by the Bank of England on the credit union sector for the first quarter of 2025. The Bank of England statistical...
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Background In March 2024, the PRA requested Category 4 Credit Unions (those with total assets below £50 million) to assess their governance arrangements. Credit Unions were asked to attest to...
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Overview HM Treasury has published its Reforming the Senior Managers & Certification Regime (SMCR) consultation alongside the PRA and FCA’s consultations on SMCR. This consultation has been published alongside HM...
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Overview HM Treasury has published its FS Sector Strategy: Regulatory Environment – Cross-Cutting Reforms consultation, focusing on reforms to the overarching regulatory framework. The consultation is part of the government’s...
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Overview The Senior Managers and Certification Regime (SM&CR) is a regulatory framework designed to enhance individual accountability in the financial services sector. It ensures that senior individuals are responsible for...
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Bank of England Credit Union Annual Statistics 2024 The Bank of England publishes aggregate data every year based on credit unions’ annual returns. Due to the time taken for credit...
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Overview The FCA has published Deferred Payment Credit (unregulated BNPL): Proposed approach to regulation CP25/23, in which the regulator is seeking feedback on rules and guidance that will apply to...
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HM Treasury: Review of the Financial Ombudsman Service Consultation Members’ Briefing Introduction HM Treasury’s Review of the Financial Ombudsman Service complements the joint consultation and approaches the review...
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Update (22/07/25) The PRA has published its PS10/25 – PRA annual fees consultation for 2025/26 – final policy statement. The PRA’s Total Funding Requirement (TFR) for 2025/26 is...
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