Credit, Collections & Insolvency News
TransUnion has appointed Bill Flynn as General Counsel and Chief Risk Officer for its UK business. In this role, Flynn will lead TransUnion’s engagement with industry regulators and oversee in-house legal, risk, compliance and company secretarial functions. With significant experience in financial services, Flynn has held leadership roles with high-profile businesses operating across Europe and…
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Victims of bank transfer scams who have been denied refunds may be in line for compensation after the Lending Standards Board (LSB) found banks’ refund processes were flawed and ordered them to review old cases. The LSB conducted a review into how banks including Barclays, Lloyds and NatWest were adhering to a code of rules…
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Following the Chancellor of the Exchequer’s announcement on 27th April, the Bounce Back Loans Scheme opens for applications from today (Monday 4th May) Delivered by lenders accredited by the British Business Bank for this scheme, Bounce Back Loans target small and micro businesses in all sectors, providing loans from £2k up to 25% of the…
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The Bank of England had published its latest banking statistics which have indicated that mortgage approvals for house purchase fell to 56,200, their lowest level since March 2013. House purchase decreased by 24 per cent from almost 74,000 in February, hitting their lowest level for seven years. The Bank of England data shows that while…
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The coronavirus lockdown is causing lasting changes to the way UK companies operate, new figures from the Institute of Directors suggest. In a survey of hundreds of business leaders, four out of ten said their organisation had made adjustments that they intend to keep in place after lockdown. Increased working from home and a greater…
Read moreLatest Insolvency Service figures have indicated that the construction remains the industry grouping with the highest number of insolvencies in the twelve months ending Q1 2020. The highest number of new underlying company insolvencies was in the construction industry with 3,077 insolvencies; followed by the wholesale and retail trade, repair of vehicles industrial grouping with…
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Household energy costs are set to increase, as research from comparethemarket.com reveals that the majority of homes across the UK are using appliances significantly more than usual whilst under lockdown. As a result of this usage surge in appliances such as dishwashers and washing machines, ovens and hobs, lighting, gaming, TVs and laptops, the research…
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