Credit, Collections & Insolvency News
Guarantor loan provider, TFS Loans (in administration) has been fined £811,900 by the Financial Conduct Authority (FCA) in relation to deficient affordability checks on 3,150 guarantors in its consumer credit business. The FCA has also imposed a requirement on TFS to redress the guarantors that were harmed by the firm not conducting appropriate checks. TFS…
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CIVEA gave evidence this week to the House of Commons Levelling Up, Housing and Communities (LUHC) Select Committee inquiry into Council Tax collection. The primary trade association for civil enforcement agencies in England & Wales, representing more than 95% of the industry, highlighted recent advances in technology and directed MPs to Cabinet Office work on…
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The Institute of Chartered Accountants in England and Wales (ICEAW) has announced it has appointed Julie Penny as its new President for 2022/23 Penny will succeed William Brooks as ICAEW president and will serve a one-year term until 2023 when she will hand over to Mark Rhys. Julia was first elected to ICAEW Council in…
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The Financial Ombudsman Service (FOS) has announced that they have appointed Abby Thomas to the role of Chief Executive and Chief Ombudsman. ThOmas brings significant experience in leading change and driving operational excellence in large, complex organisations. She currently works for Virgin Media O2, which has 42.7 million mobile connections and 5.8 million fixed line…
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Over the next five years rents are expected to grow faster than house prices (5% for rents and 4% for prices) according to research from the Royal Institution of Chartered Surveyors (RICS). The research showed that demand from prospective house buyers fell in May 2022, a potential side effect of the rising cost of living…
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Research by London rental platform, Rentd, has indicated that rental cost increases have contributed to a strain on household finances for 86% of UK tenants, with many facing further cutbacks should their household costs continue to increase. The survey of over 2,000 UK tenants commissioned by Rentd found that, since the start of the year,…
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Tenants in privately rented properties risk ‘falling through the crack’ when it comes to the recently announced energy bill support, Citizens Advice has warned. The charity has conducted research which found more than one in eight private renters – equivalent to half a million (585,000) people – may miss out on vital support to cope…
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The British Business Bank has appointed Louis Taylor as its new Chief Executive Officer. Taylor is currently CEO of UK Export Finance, the UK government’s export credit agency. Taylor joined UK Export Finance in 2015, enjoying a stellar career which saw the department provide its highest level of support for UK exporters in 30 years…
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