Credit, Collections & Insolvency News
The 15th September marked the 10th anniversary of the collapse of Lehman Brothers, the largest bankruptcy filing in history. It marked the point at which failures in the US mortgage markets developed into a full-blown international banking crisis. Arguably, this event has come to define the Financial Crisis, the effects of which are still being…
Read moreThe winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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High-cost short-term lender CashEuroNet UK has topped the latest the Financial Ombudsman (FOS) complaints table. Complaints against CashEuroNet UK shot up by more than 200 per cent in the first half of this year – more than double the rate that drove rival Wonga into administration. But the data, from the Financial Ombudsman Service (FOS), which adjudicates…
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Close Brothers has announced that it is selling its point-of-sale (POS) retail finance business to Swedish consumer lender Klarna, as it decides to focus on secured lending products, which include leasing and motor finance. The acquisition will significantly strengthen Klarna’s position in the UK market for retail financing and will enable accelerated growth and expansion of…
Read moreThe potential impact of a ‘no deal’ Brexit on cross-border insolvency cases, as set out by the Government in a just-published technical note, is deeply concerning, says insolvency and restructuring trade body R3. Stuart Frith, R3 president, said “We would be deeply concerned about the impact of a ‘no deal’ on the UK’s insolvency and restructuring…
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Responding to last week news that there was a drop in apprenticeship starts, Federation of Small Businesses (FSB) National Chairman, Mike Cherry, said: “Today’s 28% year on year drop is yet another clear signal that the levy system isn’t working to its full potential. “Big businesses are still struggling to come to terms with the levy…
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The Open Banking Expo has announced the appointment of two fintech heavy-weight speakers for its morning and afternoon keynote sessions. Google’s renowned former managing director is confirmed as the morning keynote, who will offer a unique insight on the future of Open Banking. Now MD, Fintech at Blenheim Chalcot, Dan Cobley has always been ahead…
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