Credit, Collections & Insolvency News
Ireland’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body said on Wednesday. The banks agreed the measure in mid-March and had granted or were close to completing 45,000 mortgage…
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New data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions has revealed overall consumer spending declined by 6% in March due to the coronavirus (COVID-19) pandemic, although some sectors saw strong growth. The figures revealed that spending on essential items rose by 11.6 per cent in March. Supermarket purchases…
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Figures from the Financial Conduct Authority show complaints to financial services firm jumped from 4.29m in the first six months of 2019 to 6.02m in the second half of the year. This was driven by a surge in claims for mis-sold PPI ahead of an industry-wide deadline last August. The data show that complaints related…
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The Chancellor of the Exchequer today announced details of the Coronavirus Large Business Interruption Loan Scheme (CLBILS).. The new scheme will be delivered by lenders accredited by the British Business Bank, the new scheme provides finance to mid-sized and larger UK businesses with turnover above £45m (the upper limit for the existing smaller-business focused CBILS).…
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Just has announced that it has appointed Charlie Horner as a Principal Consultant. Horner has previously worked at TDX Group and Experian and joins to head up the company’s solution design team. Horner will help develop Just’s digital marketplace solutions in order to bring a new, fresh and independent provider’s approach to the market of…
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Retail sales fell by 27% in the first two weeks of the UK’s lockdown, resulting in the worst monthly decline on record for the sector overall last month, according to industry figures. by the British Retail Consortium (BRC) On a total basis, sales decreased by 4.3% in March, against a decrease of 1.8% in March…
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Some 60% of the UK’s event industry’s supplier base is facing collapse within three months, unless event businesses receive further support from the Government, according to an online survey carried out by the Events Industry Forum (EIF) and Business Visits and Events Partnership (BVEP) and co-ordinated by the Production Services Association (PSA) between 3-7th April, …
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The Financial Conduct Authority (FCA) has announced a proposed package of measures to directly support consumers facing payment difficulties due to coronavirus (Covid-19). The range of targeted temporary measures covers the motor finance and high cost credit agreements, which include: high-cost short-term credit (including payday loans), buy-now pay-later (BNPL), rent-to-own (RTO) and pawnbroking. The proposals…
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