Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same month last year. Credit card and personal loan new business together grew by 11% in May, while retail store and online credit new business increased by 8%. Second charge mortgage…

New research by credit experts TotallyMoney suggests consumers will pay an estimated £23.8 million solely on interest and transaction fees from using credit cards to gamble on 2018’s World Cup. Credit card payments used for gambling are treated by lenders as a cash advance. This usually means the borrower is charged a transaction fee, a…

The Financial Conduct Authority (FCA) has today proposed a new Directory to help consumers and firms check the status and history of individuals working in financial services. The Directory will include all those who hold Senior Manager positions requiring FCA approval and those whose roles require firms to certify that they are fit and proper.…

New research from Direct Line Life Insurance reveals consumers are hiding over £69bn of debt from their partners. People are completely in the dark over their loved ones’ finances, with 8.3 million (16 per cent) of consumers having debts their partner knows nothing about. The average debt hidden from a partner in the UK is £8,293,…

Nearly a quarter of all credit card searches carried out through Experian are for credit builder cards, new analysis from its first Credit Search Barometer has revealed. These cards give those with “thin” credit files or those with low credit scores the chance to get on track and gradually improve their creditworthiness by showing they…

The New Payment System Operator (NSPO) has taken over the oversight for running and managing the cheque paper and cheque image clearing systems with the Cheque and Credit Clearing becoming a subsidiary of the NPSO. All payments will continue to be processed as usual through the paper clearing system for cheques and the recently launched Image…

Ticket sales and distribution company, Ticketmaster has revealed it has suffered a major data breach in which tens of thousands of people had their card details stolen. The breach has compromised payment card and personal information of customers who made purchases on its UK website. According to the company, the breach was carried out through malicious…

The Bank of England has published its latest banking statistics which show that consumer credit growth rates continued to slow in May, but remains rapid relative to 2009-12. Although net lending fell slightly on the month, at £1.4 billion, it was in line with the average amount borrowed monthly over the past year. The decrease…

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