Credit, Collections & Insolvency News
Latest figures from Barclaycard show that more than half of consumers are cutting back on non-essential spending with sales at bars, pubs and clubs down 0.4% in September compared with a year earlier. This marks the first time sales have fallen since March 2021 when pandemic restrictions began easing. Consumer card spending grew 1.8 per cent year-on-year…
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The Payment Systems Regulator (PSR) has confirmed plans to force banks to introduce new anti-fraud measures. The PSR said around 400 more firms would be required to use the name-checking service, called confirmation of payee (CoP) which helps to make sure payments are not sent to the wrong account by mistake, or to accounts run…
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At least one in five working-age families in most UK constituencies would lose out by hundreds of pounds on average if real-terms benefit cuts go ahead, a study Joseph Rowntree Foundation (JRF) has found. JRF has used the latest official data to produce a comprehensive analysis of which parliamentary constituencies will be most affected if…
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Business output and confidence fell to its lowest level since February 2021 last month as employers put the brakes on recruitment because of growing economic uncertainty according to research by BDO. The latest numbers mark the first time all four of BDO’s Business Trends indices have fallen together since the first national lockdown in April 2020.…
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The Financial Conduct Authority (FCA) has updated its guidance on how banks should approach branch and ATM closures. The regulator is now asking banks to assess what affect partial closures, such as removing counter services or permanently reducing opening hours, will have on customers and to put alternatives in place before changes are made. Since…
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Business advisory, restructuring and investment practice ReSolve has announced that it has appointed Larry Jobsz as a Partner Jobsz has over 30 years’ experience, with his most recent role was as Managing Partner at the corporate recovery and turnaround firm Buchler Phillips, where he led significant assignments for a diverse mix of clients and enjoyed…
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Risk and data consultancy, Jaywing, has appointed credit risk and machine learning expert, Doctor Steve Finlay, as lead consultant to strengthen the company’s analytics offering and innovate its product suite. Finlay has over 25 years’ experience of providing analytical solutions to the financial services industry, Steve’s expertise will help organisations navigate regulatory requirements, optimise acquisition…
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While significant steps from the government have led to inflation rates finally relenting, they have still failed to relieve concerns of the UK being on the brink of recession. The last month has seen the kind of centralised political intervention which, pre-pandemic, would have been labelled ‘unprecedented’. However, even the depth and breadth of these…
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