Credit, Collections & Insolvency News
Small businesses will be able to use a new, free and independent service to help them resolve disputes with their banks, in a boost for SMEs with the launch of the Business Banking Resolution Service (BBRS). The BBRS is a dispute resolution service set up to resolve disputes between eligible small and medium-sized businesses and…
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High street banks could be forced to reimburse all scam victims under rules proposed by the Payment Systems Regulator (PSR). The new regulations would also see banks forced to publish figures showing how often they pay back blameless fraud victims. The PSR has launched two calls for views exploring greater protections for everyone using payment…
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Ofcom has fined O2 £10.5 million, after customers leaving the mobile provider were overcharged, due to billing errors by the company. Ofcom’s rules require telecoms companies to provide customers with accurate bills and charges. In 2019, Ofcom opened an investigation into potential issues with the way O2 was billing customers who were leaving the provider. When a…
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Latest figures from the Business Distress Index by Real Business Rescue have revealed the number of SMEs in significant distress now stands at 620,000 an increase of 76,000 in Q4 2020, putting 2.8 million jobs under threat. The Index has discovered that since lockdown, 118,000 more SMEs have been plunged into distress, a 23% increase…
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