Credit, Collections & Insolvency News
Duncan Swift, President of insolvency and restructuring trade body R3 has responded to the Queen’s Speech Swift said “We hope the Government does not miss the opportunity to make progress with much-needed – and long-awaited – corporate insolvency and restructuring reforms. They don’t appear to have been included in any of the planned bills, and…
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Andrew Bailey has been appointed as the new Bank of England governor. The current chief executive of the Financial Conduct Authority will become the Bank’s 121st governor. Her Majesty the Queen has approved the appointment. In order to provide for a smooth transition, the current Governor, Mark Carney, has agreed to now complete his term…
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A noticeable levelling off of credit card lending over the second half of 2019 so far bucks a significant long-term trend, suggesting that we may see big changes in the credit market during 2020, according to the December 2019 Money Statistics, produced by The Money Charity. In 2019, after years of considerable, rapid growth, credit…
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A summary of some of the commercial developments in the fintech space for 2019 and looks forward to 2020 with predictions of likely themes. 1 – Partnerships! We’ve seen an explosion of partnerships across the sector in 2019, neo banks and personal finance have spearheaded the rise in marketplace banking offerings. 2019 has seen Monevo…
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Here is an overview of The Money Charity’s latest statistics for December 2019: Personal debt in the UK People in the UK owed £1,665 billion at the end of October 2019. The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings. Net mortgage lending rose…
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Clarke Willmott has made a series of new appointments to its debt recovery team. The Taunton-based team, jointly led by Phil Roberts and Kat Quinton, has made five new appointments with another starting in January and a further three team members currently being recruited. Simon Little joins the debt recovery team as Insurance Team Supervisor,…
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UK Finance, the trade organisation representing the banking and finance industry operating in the UK, has announced the appointment of RBS’ Lloyd Cochrane as the new chair of its Mortgages Product and Service. He will replace outgoing chair Richard Rowntree, UK Mortgages Director, Bank of Ireland UK, in January 2020. The UK Finance Mortgages Product…
Read moreMore needs to be done to raise awareness of blockchain technology and its benefits, as 19% of finance professionals are unaware of its uses within finance and 29% have no idea what blockchain is, according to the FinTech Barometer, an annual survey of 1,000 finance professionals conducted by order-to-cash specialist Onguard. While 29% of finance…
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