Credit, Collections & Insolvency News
While an increasing focus has been given over to the FCA’s review of motor finance, only limited reference has been given to the escalating regulatory scrutiny of almost all regulated firms by the introduction of the Senior Managers & Certification Regime (SM&CR). SM&CR, which is due to be implemented in the consumer credit sector on…
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A new report by the Business, Energy and Industrial Strategy (BEIS) Committee has said that UK regions face being left behind unless the Government steps up efforts to manage the transition to automation and that British businesses could find themselves being uncompetitive. The Automation and the future of work report has found that the UK’s…
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The government has announced the launch of a new Credit Union Investment Fund which will support credit unions to increase financial inclusion and help them to grow. Following the launch, more people will have greater access to affordable credit and savings plans through the new £10 million fund. The Fund, which will open next spring,…
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Irish SMEs drew down €1.4 billion in loans from Irish banks over Q2 2019, an increase of €147 million on the same period of 2018. SMEs in the property sector accounted for the largest share of new drawdowns at 36 per cent, followed by SMEs in the wholesale/retail trade and agricultural sectors; accounting for 12…
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Problems with bills and disruption to services have led to four water companies being warned to curb a sharp rise in complaints from their customers. More than 2 million calls were made by households to water companies across England and Wales in 2018/19 to resolve problems with the essential services they provide, according to the…
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New statistics published by StepChange have revealed that a record 331,337 people contacted StepChange for help with their debts in the first six months of 2019. The charity’s latest Statistics Mid-Year Update reveals that of the 190,484 [see notes to editors] new StepChange clients who received full debt advice, the average level of unsecured personal…
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New figures from the consumer group Which? indicate that one in 10 free UK cashpoints have either closed or started charging fees since January 2018, with deprived communities disproportionately impacted by the changes. Anabel Hoult of Which? and Natalie Ceeney of the Access to Cash Review have written to the Chancellor to urge the Government…
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Euler Hermes has published its third edition of its Enabling Digitalization Index (EDI), which analyses a country’s ability to provide an environment where companies can digitally transform successfully. The score is based on 5 components: regulation, knowledge, connectivity, infrastructure and size. The United States (U.S.) topped the list with a score of 87 out of…
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