Credit, Collections & Insolvency News
European credit management services provider, Lowell Group has announced that it has completed the acquisition of Hoist Finance UK following receipt of regulatory approval. The transaction includes the operations of Hoist Finance UK and its entire unsecured non-performing loan portfolio, comprising of over 2 million consumer accounts, which had approximately £585m 180-month Estimated Remaining Collections…
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The cost of some lowest-priced food items rose by more than 50% as new ONS figures show many people struggling to pay energy bills and rents. The analysis found that the cost of the lowest-priced vegetable oil and pasta have both risen by almost two thirds in the last year, The new experimental figures, which…
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New findings from the HL Savings & Resilience Barometer in July 2022, produced with Oxford Economics have found that the higher the level of education your parents reached, the more likely you are to have money. The research found that 69% of those whose father went to university have enough cash at the end of the…
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The Financial Conduct Authority (FCA) has launched a review into big tech’s move into payments, deposit taking, consumer credit and insurance. While the FCA acknowledged that the involvement companies such as Alphabet, Amazon, Apple and Meta could bring innovation and benefits to consumers by increased efficiency and delivering healthy competition, it said they could pose…
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A worrying mistrust in technology is making some regulated firms vulnerable to financial crime according to SmartSearch. Research by the company has revealed that almost one in five (18 per cent) decision-makers in the legal, property and banking and finance sectors did not trust the technology of electronic verification (EV) software. Five hundred stakeholders, from…
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