British banking and financial services trade association
Labour has said it will not rejoin the European Single Market or the Customs Union, but is open to recalibrating its Brexit stance within manifesto red lines as ministers push for closer EU energy and trade ties. The party leadership is facing pressure from rivals to re-examine its Brexit red lines amid ongoing reset diplomacy.
UK Finance calls for a strategic partnership with the EU on financial services, proposing steps to deepen cooperation, harmonise rules, and maintain access for UK clearinghouses while seeking closer capital rules equivalence.
UK Finance and banks are expanding real-time data sharing to flag fraud and verify customer citizenship signals amid rising APP fraud, investment scams and online scams. Regulators push for stronger platform responsibilities as losses climb and reimbursement rules remain in force.
Fraud losses reached a record $15.9 billion in 2025, up 27% from 2024, with high-dollar imposter scams driving most of the damage. Imposters posing as banks and government officials lead the most costly cases, while AI tools are making scams harder to detect. Authorities urge caution and verification.
UK regulators are expanding Buy Now, Pay Later oversight. From July 15, BNPL providers must be authorised by the FCA, undergo affordability checks, and offer clearer information and complaint routes. The changes aim to protect consumers while preserving access to flexible payments.