The Payment Systems Regulator (PSR) planned to reduce fraud compensation limits for scam victims from £415,000 to £85,000, aligning with the Financial Services Compensation Scheme. Despite pressure from ministers and industry stakeholders, the PSR justified the change by citing a low number of high-value fraud cases and the need to strike a balance between consumer protection and industry competition. Consumer watchdog Which? criticized the move, expressing concerns about reduced protections and incentives for payment firms to enhance fraud security measures.
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Social Security Claiming Strategies: Understanding the Drawbacks of Claiming Early
If you qualify for Social Security retirement benefits, you can start receiving payments at age 62, but doing so before your full retirement age will result in a reduced benefit. It's crucial to weigh the financial impacts of claiming early, even though there may be valid reasons for doing so. Explain It To Me Like I'm 5: If you get money from Social Security when you're older, you can start getting it at 62, but...
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