Credit, Collections & Insolvency News
Samantha Barrass has been named as the first Chief Executive Officer of the Business Banking Resolution Service (BBRS). The BBRS has been set up to resolve disputes between small and medium-sized businesses and their banks to deliver independent transparent, fair and reasonable outcomes The BBRS is backed by Britain’s six biggest high street lenders. Sarrass…
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Financial stress among European consumers is rising with almost half (45%) say their bills are rising at a faster rate than their income, thus negatively affecting their general wellbeing according to Intrum’s latest edition of its European Consumer Payment Report. The report says that borrowing culture is on the rise. An increasing number (24%) have…
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Revolut has announced launched Direct Debit services for all European Economic Area (EEA) customers with local UK accounts. Revolut’s latest feature has added to its global financial retail and business platforms. The new functionality will utilise Modulr’s Direct Debits Mandate service. This new feature allows Revolut’s EEA customers with local UK account details to make…
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Millions of people have fallen victim to credit card fraudsters over the last year, according to new research by comparethemarket.com. Over a fifth (21%) of consumers have had to replace or cancel their credit card as a result of attempted fraud, equating to 11 million people nationwide. comparethemarket.com’s Credit Card Fraud Index found that in…
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HSBC and Santander have agreed to refund customers after they both broke a legal order for unarranged overdraft charges. An investigation by the Competition and Markets Authority (CMA) found that HSBC has twice broken Retail Banking Market Investigation Order and will now refund £8 million to 115,000 customers. Santander broke the Order 6 times and…
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