Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has published an updated consultation on rules to help customers in persistent credit card debt. This follows an April 2017 consultation paper on proposed remedies to help millions of people get out of expensive longer-term credit card debt. These include firms, at designated timeframes, prompting customers to make faster repayments…
Read moreThe industry is, by now, fully aware of GDPR which provides new rights for consumers. The changes go live in 218 days and will enhance protection for consumers, but in doing so will present some challenges to the market place. We believe that some of the biggest challenges our industry will face are – Customers…
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In recent news, the rise in consumer default rates has the Bank of England (BoE) as well as the high street banks concerned about the health of the UK economy. The BoE has attributed this to the rising cost of living that is outpacing the increase in wage growth. However, this only considers the short…
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The Basel Committee on Banking Supervision (BCBS) has long had its sights on reducing variability in risk-weighted assets (RWAs). The Basel IV package of regulatory reforms proposed by BCBS will greatly increase the capital requirements of firms following the standardised approach to credit risk. Firms with significant concentrations of secured assets in higher risk segments…
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The Consumer Council for Water (CCWater) is warning against water companies being able to give to customers with one hand while taking from them with the other in the 2019 Price Review. The water watchdog has welcomed Ofwat’s tighter squeeze on companies’ financing costs which will help to keep bills down in the future. But…
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AIM-listed specialist independent provider of finance facilities, 1PM has announced the proposed acquisition of MH Holdings (UK) Limited, the holding company for Academy Leasing Limited for up to £12m. Academy Leasing has grown organically since its launch in 1987 to become one of the UK’s leading providers of equipment and vehicle finance. The acquisition will allow Academy…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up in October by 6% and 13% respectively, compared…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 7% in October, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…
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Data Interconnect has announced background to a major financial investment, in a move that supports a hefty growth strategy, using research and development (R&D) as a strengthening resource. Tom Dodd-Noble, Managing Director of Data Interconnect said “Investing in growth isn’t just important for the long-term success of our business – it’s also important for the…
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