Credit, Collections & Insolvency News
Latest research from Equifax has discovered that 38% of people, in the UK, believe they always get the best deals through a comparison website. The online survey, conducted by YouGov also found that 70% of people use a comparison website when choosing a financial product. The Competition and Markets Authority (CMA) has recently launched a…
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SME working capital solutions specialist Scottish Pacific Business Finance UK has announced a senior appointment. Rob Kelly has been appointed as senior business development manager at Scottish Pacific Business Finance UK, with the key responsibility to head up sales and develop new business through Scottish Pacific’s new central London office. Scottish Pacific head of international…
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Metro Bank has launched a specialist Large Commercial Banking team focussed on supporting trading businesses, and staffed by a team of industry experts. Andy Veares, Director of Large Commercial Banking, will lead the new department and is joined by Paul Robinson and Simon Vallance, previously of Santander UK; and Mark Byrne and Andrew Cremin formally…
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Chris Pond has been appointed the new Chair of the The Lending Standards Board (LSB). Pond will take over as Chair of the LSB at the end of March. He succeeds Lord Hunt of Wirral who has completed 6 years as LSB Chairman, recently overseeing the move from the Lending Code to the outcome-focused Standards…
Read moreThe Federation of Small Businesses (FSB) recently released figures showing that disputes are costing small firms in England and Wales at least £11.6bn each year. The main reason for these disputes? Well, almost three quarters of it was down to late or non-payment. We have a late payment culture in the UK, which hampers the…
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Where would you turn if you did not have enough money to pay for your household bills or debts? A Christians Against Poverty (CAP) survey of 1,200 clients has found that 91% had used some form of credit to pay a bill or debt. The figures show that for the vast majority struggling with debt,…
Read moreNava Finance Limited today announced that the Financial Conduct Authority has confirmed that as of 27 January, 2017 Nava Finance Limited is authorised and regulated by the FCA, enabling Nava to begin offering personal loans to UK consumers. The company is now focused on working towards an initial launch date, which will be announced when…
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New research from Sainsbury’s Bank Loans has revealed that more than 180,000 people across the UK could take out a personal loans for debt consolidation in the first three months of 2017, worth more than £2 billion. This figure equals an estimated 31% of all personal loans taken out in the first three months of the new year.…
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The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services…
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FEATURE: Brexit and Debt Recovery When it comes to Brexit, we’re in unchartered waters. The government has yet to invoke Article 50, and is still working out, and trying to negotiate, acceptable terms. Prior to the referendum, as a member of the common market, the UK benefitted from over 50 EU-established trade agreements with the…
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