Credit, Collections & Insolvency News
Bob Wigley has been announced as the chair of the new integrated trade association called Financial Services Trade Association, which will bring together six member organisations operating across a wide range of financial services in the UK. The six trade associations which are set to merge are: The Asset Based Finance Association (ABFA) British Bankers’…
Read moreThe latest released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015.…
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The latest figures released by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in 2016. New business in December grew by 2% compared with the same month in 2015. Credit card and personal loan new business together grew by 8% in 2016, while retail store and online credit…
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Increasingly we are hearing that tone and culture are prerequisites for financial services firms, as well as in other organisations. Many organisations have ‘toyed‘ with behavioural culture programmes over the last 30 years, launching company wide programmes underpinned by HR and marketing material. All too often the programmes have failed, as on many occasions they…
Read moreA resurgence in economic confidence was experienced by credit professionals in the final quarter of 2016, according to the UK’s latest Credit Managers’ Index (CMI). Yet bad debt remains a risk with only 13% of credit managers expecting a decline in 2017. Full results from the quarterly barometer of the Chartered Institute of Credit Management…
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Dundee City Council has written off £12.8 million of debt in just three years according to local news sources. An investigation into the local authority’s finances has uncovered the large sums owed to the public purse that were written off between 2013 and 2016. That included more than £4.75m in unpaid rates from businesses, £2m…
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BNP Paribas has named Francois Regnier as it’s new head of its compliance team in the UK. Regnier has worked at BNP Paribas since 2001, according to his LinkedIn profile, most recently serving as its chief operating officer and deputy to Verstraeten. His appointment was announced internally to the bank’s UK compliance department earlier in Januar. Regnier…
Read moreThe number of properties taken into possession last year declined by almost 25%, according to new data from the Council of Mortgage Lenders (CML) Last year’s total of 7,700 cases of possession compared with 10,200 in 2015, and was the lowest number since 1982. Over the course of 2016, the number of mortgages in arrears also fell by 7%. However,…
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Not every customer communication relating to credit constitutes a financial promotion; we need to understand what the term ‘financial’ promotion means in the eyes of the FCA in order to be make this decision, as determining whether a communication is a financial promotion or not is vital in ensuring compliance with the FCA’s financial promotion…
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