Credit, Collections & Insolvency News
Over half of financial services professionals neglect safe data practices working from home according to new research by Tessian. 56 per cent of financial services professionals are less likely to follow safe data practices and 61 per cent feel they can ‘get away’ with riskier behaviour when working remotely. The State of Data Loss Prevention…
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The Financial Conduct Authority (FCA) has fined Lloyds Bank and its subsidiaries Bank of Scotland and The Mortgage Business £64,046,800 (over £64 million) after it was found to have failed its vulnerable mortgage customers. Failures were found in relation to their handling of mortgage customers in payment difficulties or arrears. The banks have estimated that…
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Water consumer group, CCW has appointed Emma Clancy as its new Chief Executive. Clancy will take the reins at the water consumer group from 1st July after joining from global building products manufacturer BMI where she was Director of Care. Clancy boasts a wealth of experience in consumer protection, public policy and regulation during a…
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New analysis has shown that essential household spending holds has held firm with no change year-on-year but also indicates signs of belt-tightening according to a ‘Spending Tracker’ by Snoop. Despite overall spending across the period increasing 14% year-on-year, the analysis shows the significant impact the Coronavirus (Covid-19) has had on many sectors. Hospitality, travel (-70%…
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Computershare Loan Services has donated £10,000 from its Charity Donations Fund to the Trussell Trust, a charity which supports a nationwide network of 1,200 food bank centres providing emergency food to people in the UK. Third-party mortgage servicer, Computershare Loan Services sets aside £20,000 annually for its donations fund to help prevent financial hardship and…
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The coronavirus pandemic is causing SME owners across the country to take drastic action in order to ensure their business survives. According to research by Nucleus Commercial Finance, one in seven (14%) are using personal savings for immediate financial support despite the options available from alternative lenders. Only a quarter (25%) of SMEs have avoided…
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A record number of housebuilders are continuing to go bust, according to data obtained by Price Bailey, 368 developers filed for insolvency last year compared with 207 in 2016, with the increase said to be threatening the supply of new homes. Price Bailey obtained data from the Insolvency Service under the Freedom of Information Act,…
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TransUnion has launched the latest evolution of its end-to-end, API-driven Open Banking solution, designed to assess income and expenditure, affordability and creditworthiness. New developments are wide-ranging, with improved analytics capabilities and a streamlined screen journey which includes anti-money laundering (AML) checks. These checks must be conducted as part of the Open Banking process, and are…
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