Credit, Collections & Insolvency News
UK Finance has today announced the appointments of Anne Boden, CEO at Starling Bank, Ruth Leas, CEO at Investec Bank, Beatriz Martin Jimenez, Global IB COO & UK Chief Executive at UBS, Steve Hughes, CEO at Coventry Building Society, Anne Marie Verstraeten, UK Country Head BNP Paribas to its board. In line with the expiration…
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Hanley Economic Building Society has announced that it has made two senior appointments and added two new members to its board. The company has appointed Jenny Jones as Head of Finance and Anna Guy as Head of Risk, while adding Ian Henley and Liz Whitfield to its board. Jenny Jones joined the society as a…
Read moreThe Financial Ombudsman Service has published annual complaints data which showed that it received over 270,000 new complaints about financial businesses in the 2019/20 financial year. PPI remained the most complained about product, with over 122,000 complaints about PPI received by the service, including a spike in complaints following the FCA’s August deadline for consumers…
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Refuge, the UK’s largest national domestic abuse charity, and free debt advice provider, PayPlan, are working together to support survivors of domestic abuse to become debt-free. The collaboration has seen PayPlan provide key information for Refuge’s frontline staff to help survivors manage their income and expenditure, helping vulnerable people get a handle on their finances. In…
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Card and contactless payments continued to increase in 2019, with card payments accounting for over half (51 per cent) of all payments for the first time, according to the latest UK Payment Markets report from UK Finance. Debit cards were the most used payment method in the UK with 17 billion payments, of which 7…
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The Financial Conduct Authority (FCA) has directed insurance firms to consider the impact of COVID-19 on the value of their products, saying they should evaluate services and detail any alterations within six months. The new measures set out what the FCA considers firms should be doing to identify any material issues that affect the value…
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A survey conducted by commercial data and analytics firm Dun & Bradstreet found that prior to the coronavirus outbreak only 22 percent of small and medium sized enterprise (SME) respondents viewed securing funding for future growth as a key business priority. With latest figures on COVID-19 related loan schemes suggesting that the pandemic has increased…
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Business debt will slow the economic recovery from coronavirus unless steps are taken to make the burden more manageable for small and mid-sized companies according to the Institute of Directors (IoD) In a poll of 720 company directors, half (51%) said that debt their organisation had taken on during the crisis would have a negative…
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Financial advisory company, Begbies Traynor has announced that it has acquired a portfolio of 503 Scottish personal insolvency cases and a team of five fee earners, from Grant Thornton in a deal thought to be worth £500,000. The acquisition will increase the group’s existing operations in Scotland, which provide corporate and personal insolvency together with…
Read moreCredit management specialist, Lowell has announced that it has made two new appointments to its Group Executive team. Thomas Lingen has joined as Group General Counsel and Bitte Ferngren joined as Group Chief People Officer. Lingen joins Lowell from Office Depot Europe in the Netherlands, bringing with him experience of leading legal functions for multinational…
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With millions of people facing debt problems because of the pandemic, the Money and Mental Health Policy Institute is urging the Government to save lives by putting an end to threatening debt letters. Money and Mental Health’s research shows that rules in the Consumer Credit Act (1974) compel lenders to send intimidating letters to people…
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Consumers repaid £7.4 billion debt in April, the largest net repayment since the series began according to the latest figures from the Bank of England’s monthly Money & Credit statistical release data. This is the largest net repayment since records began in 1993 and double that of March, which was the previous record. The figures…
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