Credit, Collections & Insolvency News
A proposal to set up a fund to compensate victims of bank scams has been rejected by payments group Pay.UK. Pay UK says that there has been no industry consensus to finance a central fund. A voluntary code requiring banks to reimburse affected customers is funded to the end of December so from January it…
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Over a third (36%) of Europe’s CFOs feel more pessimistic about their companies’ financial prospects than they did three months ago, according to Deloitte European CFO Survey. This percentage has doubled since the first survey in spring 2015, when the figure stood at 18%. Fewer than one in five CFOs (18%) consider now to be…
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New research from the Emerging Payments Association has revealed that ‘realtime’ payments are growing rapidly in the UK, signifying potential for business payments for banks and fintechs. The Impact of Realtime on Payments and Data, which details how consumer expectations have drastically changed over a short period of time – and consumers no longer accept…
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The Money Advice Trust, has published a new guide to support car dealership staff improve support for customers in vulnerable circumstances. The dealership guide ‘Customer vulnerability: decision-making when purchasing a vehicle’ provides practical tools and processes staff can use when engaging with customers. Written by the Money Advice Trust’s Vulnerability experts, Chris Fitch and Colin…
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The Central Bank of Ireland has published a new guide to sanctions imposed under the Administrative Sanctions Procedure (ASP) for the financial services sector. This ASP Sanctions Guidance increases transparency by providing greater clarity on the Central Bank’s general approach to sanctioning of firms and individuals. It provides guidance on the application of a variety…
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Hodge Bank has appointed two new board Directors. Graeme Hughes joins as Senior Independent Director of Julian Hodge Bank and Hodge Life Assurance Company. David Gulland joins the board of Hodge Life Assurance Company. Both will join the Board of Hodge. Hughes spent the vast majority of his career with the Nationwide Building Society, most…
Read moreHome repossessions have increased by 19 per cent to 1,330 in the third quarter of 2019 compared to the same period last year, new figures from UK Finance have revealed. UK Finance says the slight increase in possessions has been driven in part by a backlog of historic cases which are being processed in line…
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