The Consumer Credit Trade Association (CCTA) has published a statement in response to the Financial Conduct Authority (FCA) ‘Dear CEO’ letter issued to all high cost short-term lenders (HCSTL) regarding the issues surrounding the increase in complaints about unaffordable lending and how the FCA expect firms to firms to manage the impact.  Lenders have been requested to…

New research from NS&I has revealed that 14% of Britons (7 million people) think they may have lost track of a financial product, highlighting the staggering amount of money left dormant with UK financial services providers. And it’s not just savings accounts, with a fifth (20%) admitting there is a possibility that they have lost…

UK Finance, the trade organisation representing around 300 firms in the finance and banking industry operating in the UK, has today announced the appointment of David Postings, Global Chief Executive, Bibby Financial Services and Mark Barnett, President of Mastercard UK, Ireland, Nordics & Baltics, to its Board. David and Mark will be joining the 22-strong…

The Treasury Committee has published its response to the Household Finances Report from July. Commenting on the response, Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, said “In its report, the Committee expressed concern about the over-zealous debt collection practices of public authorities. The Government’s rehashing of existing policies in its response adds…

The Association of Mortgage Intermediaries (AMI) has responded to the FCA consultation on a new directory which will continue to show Appointed Representatives after the Senior Managers & Certification Regime has been extended.  This meets the requirements set out under the Mortgage Credit Directive.  The AMI says it supports the addition of mortgage advisers to this list to…

Consumer spending across a wide range of UK business sectors is being restricted due to low awareness levels around the availability of point-of-sale credit options. The figures come from a new research report, which found that if consumers didn’t have the immediate funds to purchase something they wanted, just 6% would think to check if…

More than a quarter of UK consumers would be happy for service providers to share their personal data with other suppliers or third parties, according to new research. The findings were reported in a study completed by outsourced customer contact specialist Echo Managed Services. The company surveyed 1,000 UK residents on their knowledge and attitudes to debt and asked…

Pepper Money (PMB) has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd, from its current owner Patron Capital, as part of its ongoing UK growth strategy. The purchase, which remains subject to regulatory approval, will see Pepper Money acquire Optimum Credit’s entire business, which includes a UK second charge…

A new report by the Institute of Fiscal Studies (IFS)  has found that 40% of young adults cannot afford to buy one of the cheapest homes in their area even with a 10% deposit. The report said house prices in England have risen by 173% over two decades. Average pay for 25-34 year-olds has grown…

1 2 3 16