Thirteen Organised Crime Groups (OCGs) were dismantled by the Dedicated Card and Payment Crime Unit (DCPCU) in the first half of 2019, double the number in the same period last year, according to the latest figures from UK Finance. The DCPCU is a specialist police unit funded by the banking and finance industry that targets…

Debt purchase and credit services specialist Cabot Credit Management has announced its latest company results which saw its earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 66% Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has delivered another strong set of results for the period to…

New figures released by UK Finance has shown that whilst the numbers of homeowners in arrears have remained at a historic low there has been an increase of 15% (1,270) in the number of repossessions in the second quarter (Q2) of 2019. UK Finance said repossessions were still well below levels experienced between 2009 and…

Mortgage repossession claims from Lenders have risen 39 per cent from Q2 2018 to Q2 2019, according to new data collected by the Ministry of Justice (MOJ) surging to its highest rate since 2014. The increase represents the fourth consecutive month in which mortgage possession claims rose, reaching 6,179 in Q2. The research also shows…

Commercial finance provider, Independent Growth Finance (IGF) has appointed Dave Pickup as ABL Director for the Thames Valley. Pickup specialises in improving SME’s cash flow through alternative funding. Providing facilities for every stage of a business’ journey including start-up finance, MBOs and acquisitions, as well as general working capital. His industry experience will support IGF’s…

Cardiff Energy Supply, a small supplier with approximately 800 domestic gas customers, will be ceasing to trade. Ofgem has appointed SSE as the supplier of last resort for these customers. Ofgem said in a news release that customers do not need to worry as they will continue to receive gas supplies as normal and credit…

The Competition and Markets Authority (CMA) has ordered Nationwide to refund £6 million to current account customers after it broke rules which state that people should receive a text alert before banks charge them for unarranged overdrafts. The CMA has told Nationwide to take immediate action and improve its practices and compliance with the instruction. The…