Credit, Collections & Insolvency News
A new research project has launched looking at how the debt advice sector supports people in vulnerable situations. Conducted by University of Bristol’s Personal Finance Research Centre (PFRC) in partnership with the Money Advice Trust and the Money and Mental Health Policy Institute and grant funded by the Money Advice Service, the research involves a…
Read more
At a basic level, Open Banking, which commenced its roll-out on January 13th, is just a data standard. Subject to a customer’s consent banks take a customer’s current account transaction history and provide direct access to this financial data to a verified third-party organisation advised by the customer. The whole process takes place through a…
Read more
Home collected credit provider Morses Club has announced its trading update for the 52-week period to 24 February 2018. Trading performance for the period has been strong and is in line with the Board’s expectations. Total credit issued was up 21% to £174.3m compared to the prior year (FY 2017: £144.1m) with a strong increase in the Company’s gross…
Read more
Citizens Advice has called on the Government to act on high-cost credit. Matthew Upton, Head of Consumer Policy at Citizens Advice, will give evidence to the Government’s Treasury Committee as part of its inquiry into household finances today (Thursday 1st March). The national charity says households are facing growing insecurity due to more unpredictable incomes…
Read more
The Payment Systems Regulator has announced the outcome of its consultation on introducing a contingent reimbursement model for victims of authorised push payment (APP) scams. An industry code will be in place by September 2018, paving the way for victims of APP scams to have better protection. The consultation, which ran from November 2017 to January 2018,…
Read more
Debt purchaser, Arrow Global has announced that it has agreed terms for two acquisitions which strengthen the Group’s investment and asset management capabilities and reinforce its growing presence in Italy. The first acquisition is for Europa Investimenti S.p.A., a leading originator and manager of Italian distressed debt investments, for an equity value of €62 million.…
Read more