Credit, Collections & Insolvency News
Young adults well protected from increased hardship through the pandemic but a risk that many will bear scars of the recession for years to come according to new research by the Institute for Fiscal Studies, funded by the Joseph Rowntree Foundation. The report says that the careers of young adults have been heavily disrupted by…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew by 106% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business was 26% higher than in the same period in 2020. The…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported growth in new business volumes of 327% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business volumes were 37% higher than in the same period in 2020.…
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Secure Trust Bank Commercial Finance has appointed Colin Muir as portfolio and structuring director for its Midlands operations, as the business strengthens its commitment to supporting SMEs across the UK. Muir joins the business from NatWest, where during his 32 years, he was responsible for establishing and growing the firm’s Commercial ABL team, which saw…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 293% in May 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 116% in May 2021 compared with the same month in 2020. In the first five months of 2021, new business was 15% higher than in the same period in 2020. The retail store and online credit sector…
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Cash management specialist, Loomis and NatWest are rolling out a same day credit solution nationwide following a successful pilot which will allow businesses to deposit cash returns and receive credit to their account without leaving their premises. Driven by technology, same day credit uses Loomis’ connected smart safe, SafePoint, to scan and sort notes at…
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The Financial Conduct Authority (FCA) has revealed its measures on how it will regulate advice on funeral plans, including a ban on commission payments and changes to appointed representative permissions. The rules will commence on 29th July 2022 when funeral plan providers come under regulation from 29th July 2022. The new rules will introduce high…
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