Credit, Collections & Insolvency News
Latest UK Finance figures have indicated that bank staff have worked with the police to stop £202.8 million of fraud since 2016 with the help of the Banking Protocol scheme. National Trading Standards and local police forces stopped £60.7 million of fraud, 34% more than in 2020, with data showing that bank branch staff made…
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The government is encouraging organisations to be vigilant of cyber threats as new data reveals nearly a third of firms suffering cyber attacks hit every week. Businesses and charities are being urged to strengthen their cyber security practices with almost one in three businesses (31 per cent) and a quarter (26 per cent) of charities…
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The Federation of Small Businesses (FSB) is warning that the futures of thousands of small businesses and sole traders are at risk as a raft of new admin requirements and cost pressures hit over the coming days. Its intervention follows Office for National Statistics figures showing that Covid infection rates are soaring, and close to one in…
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Citizens Advice has announced that, for the third month in a row, it has broken record for providing crisis support as the cost of living impact takes hold. In March 2022, the charity referred 24,752 people to food banks or to other charitable support, up by 44% compared to the same time last year. Research…
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More than half (54 per cent) of young people, aged 18-34, think the current credit score system is fundamentally flawed according to new research from MyLifeKit. More than 44 per cent of all other respondents, aged 35 and older, also agreed that credit scores are flawed, contributing to an average of 46 per cent of…
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Credit provider, NewDay has published insights into its customers’ spending trends for the first two months of 2022. The data showed consumers prioritised booking holidays, with average credit card spend on hotels, flights and travel bookings increasing 453% in January and February year-on-year (YoY) as consumers took advantage of reduced global travel restrictions. The further…
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The IoD’s Directors’ Economic Confidence Index collapsed from -4 in February 2022 to -34 in March 2022, the lowest level since October 2020. Investment intentions have also fallen back, with the net proportion of firms planning to increase investment falling from +14% in February to +2% in March. Over half (53%) of business leaders say…
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Provident Financial Group (PFG) has announced the appointment of Fiona Anderson as Managing Director of Cards, subject to regulatory approval. Anderson has a wealth of significant experience across credit cards and personal banking. From 2019 to 2021, she served as Head of Everyday Banking at HSBC and prior to that she held senior positions at…
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