Credit, collections & insolvency news
Online invoice peer-to-peer specialist MarketInvoice has announced the appointment of Shaun Alexander as Head of Risk. Alexander is a highly regarded senior management level professional with over 30 years’ experience in retail and corporate banking, namely at Barclays and Santander, where he led teams focussing on asset-based lending and business finance. Alexander began his career at Barclays in…
Read moreSuppliers will not be allowed to back-bill customers for energy used more than 12 months ago under new proposals from Ofgem. Back-bills mainly result from suppliers using estimated bills until they take an actual meter reading which may show that the customer’s consumption is higher than expected. Suppliers then send a ‘catch-up’ bill to recover the…
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More than three million people have been frozen out of credit in the past 12 months, despite mainstream lenders promising to increase access, according to new research. Almost one in five people who applied for credit in the last 12 months – either a credit card, personal loan or mortgage – had their applications refused,…
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The Central Bank of Ireland has announced the appointment of Bernard Sheridan, as Acting Deputy Governor (Financial Regulation) with effect from 8 April 2017. This interim appointment follows the resignation of Deputy Governor (Financial Regulation) Cyril Roux, who gave notice of his resignation on 28 February last. During this interim period, Bernard Sheridan will take…
Read moreIt won’t surprise readers of this blog to hear that the Consumer Credit industry has been on quite a journey over the last few years. The impact of a tougher regulatory regime has changed the game, and to a degree, helped to deliver better customer outcomes. But in the era of Trump and “fake news”…
Read moreExtra Energy has come bottom of Citizens Advice’s Energy complaints league table for small business customers for the second quarter in a row. The ranking table which was launched in January by Citizens Advice measures how effective energy suppliers are dealing with complaints from small business customers across Great Britain. Citizens Advice says good customer service from…
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The Competition and Markets Authority’s (CMA) price cap on pre-payment meters has come into force to the benefit of around 4 million households. Last June, following a two-year investigation into the energy market, the Competition and Markets Authority (CMA) decided to put in place a temporary price cap to protect some of the most vulnerable households in…
Read moreThe Financial Conduct Authority (FCA) has proposed new rules to help customers who are in persistent credit card debt. This follows the FCA’s study of the UK credit card market, which found significant concerns about the scale extent and nature of problem credit card debt. Under the FCA’s definition, credit card customers are in persistent…
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The Central Bank of Ireland has released Ireland’s Money and Banking Statistics for February 2017. Here is an overview of the main findings. Irish residents’ draw-downs of non-housing loans were €162 million higher than repayments over the year to February 2017. This compares with net repayments of €614 million in the year to February 2016. The…
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