Credit, Collections & Insolvency News
The Payment Systems Regulator (PSR) has taken action against National Westminster Bank Plc, Royal Bank of Scotland Plc, Ulster Bank Ltd and Coutts & Company for overcharging interchange fees on credit cards. The regulator’s action has made sure that those who were overcharged by the banks got their money back. The PSR has also fined…
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New figures from StepChange Debt Charity Scotland have indicated that client average arrears on essential bills have increasing by 29% from £2,302 in 2020 to £2,961 in 2021. The charity says that it helped over 28,600 clients with debt advice, and 8,433 went through a full debt advice process, with a growing proportion of clients…
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Higher earners are more fearful of moving or losing jobs than low-earners, due to worries about getting less pay and flexibility when they find new jobs, while low-earners often see little benefit from upending the status quo, according to new research by the Resolution Foundation. Listen Up – the 18th report for The Economy 2030…
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Grieving families in Britain are being put under additional financial strain due to not discussing end-of-life wishes with loved ones, SunLife’s annual Cost of Dying Report has revealed. The research revealed that families unsure of what the deceased would have wanted often overspend compared to those who had shared their wishes in advance. Almost half (48%) of…
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Despite signs of recovery in 2021, consumers’ wealth has seen a sharp decline in the first quarter of 2022 as the cost-of-living crisis takes its toll, according to the latest data from LifeSearch. The Index – compiled by modelling a range of data sources covering health, wealth, and happiness and monitoring changes over time – shows that…
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The Financial Conduct Authority (FCA) has granted AperiData, AISP (Account Information Service Provider), CIS (Credit Information Service), and CRA (Credit Reference Agency) permissions. With the FCA’s granting of permissions, AperiData says that it is uniquely positioned to begin putting their services to greater and more innovative uses. The company says that it operates at the…
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Following confirmation from the Environment Secretary, Iain Coucher has been appointed as the new Chair of Ofwat, the economic regulator for the water sector in England and Wales. Coucher will take up the post on 1st July 2022. During the pre-appointment hearing held by Parliament’s Environment, Food and Rural Affairs Committee (EFRA) Coucher set out…
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Laura Barley has been appointed as Chief Operating Officer (COO) for TransUnion in the UK. TransUnion pledged in 2019 that it aimed to achieve gender parity in senior leadership by 2030 in all the regions it operates in. The UK leadership team, which is now 50% female, is a testament to that commitment being put…
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