Credit, Collections & Insolvency News
As Credit Connect itself reported, more than 14 million people in the UK are now categorised as having ‘low financial resilience’, with a further 27 million showing signs of financial vulnerability. These higher-than-usual figures are no doubt due to the pandemic and its fallout, and the pressure is mounting lenders and other financial organisations exercise…
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Growing businesses are led by leaders that know about and regularly talk about, technology, according to new findings from Thoughtworks. Surveying 969 CEOs and CIOs across 12 different countries, the research revealed that among businesses that anticipated growth in 2021, three-quarters (74%) were led by leaders that kept fully up-to-date with the latest technology developments,…
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New research by Money.co.uk has shown that 18-24 year olds are more likely to use Buy Now Pay Later schemes (54%) than a credit card (49%) The research follows on fromt the news that Buy Now Pay Later (BNPL) transactions are set to exceed 1.5 billion transactions by 2026. Money.co.uk’s latest ‘Shop Now, Stress Later’…
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The Financial Conduct Authority (FCA) has fined Lloyds Bank’s insurance arm £90,688,400 (£90 million) for sending insurance renewal letters to customers suggesting they were getting a ‘competitive price’ without backing up the claim. The FCA says that Lloyds failed to ensure that language contained within millions of home insurance renewals communications was clear, fair and…
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