UK firms have racked up around £70 billion worth of unsustainable debt, according to a new report from The City UK, with more than £20 billion of that coming from government-backed coronavirus loan schemes. TheCityUK’s Recapitalisation Group (RCG), supported by EY, has published updated projections for levels of unsustainable debt faced by SMEs.  The report…

The Financial Conduct Authority (FCA) has confirmed that so far in 2020 no criminal prosecutions under the current anti-money laundering (AML) legislation have been made, despite its stated intention in 2019 to do so. The statistic came from a Freedom of Information request, which also said it has discontinued half of its 14 investigations into…

Mobility and fleet leasing firm Alphabet has announced that it has appointed Chantal Gorman as its Chief Risk Officer. Gorman will assume the role of Chief Risk Officer from Stefan Oswald who has been carrying out the regulatory responsibility for the function, supported by Neal Coleman, Head of Risk. Both have been continuing to strengthen…

Morses Club, says it is making good progress in accelerating its strategy of serving its customers via remote methods of lending and collection. As part of its latest results the doorstep lender says that customer responses to the launch of its remote lending remain positive. Subscribers to Morses Club’s online customer portal, which enables remote lending…