7th November 2022 - Credit Connect

One in three struggled with the cost of driving in the past month

7th November 2022 Consumer Collections | #driving costs

More than one in three motorists (35%) have struggled to afford the cost of driving in the past month, according to new research from Comparethemarket. The research found that four in ten motorists (40%) fear they will no longer be able to keep driving if costs continue to increase. Separate figures from Comparethemarket show the…

Late payments hit two year high for small businesses

7th November 2022 Commercial Collections and Recoveries | #late payments

Payments to small businesses were made on average 8.2 days late in September. This is the highest late payment time since August 2020 according to the latest data from Xero, the global small business platform. Xero’s Small Business Index, based on anonymised and aggregated data from hundreds of thousands of small businesses, found that in…

Asset finance fraud cases soar

7th November 2022 Asset Finance | #asset finance fraud

Fraudulent activity for asset finance products has seen a 162% increase, according to fraud prevention service Cifas. As a result of the cost-of-living crisis, the asset finance industry is facing significant challenges, with rising costs causing a surge in fraud. The motor finance sector has been particularly hard-hit, seeing a 13% increase in fraud in…

FCA increases interventions on rogue financial promotions

7th November 2022 Consumer Lending |

New data published by the Financial Conduct Authority (FCA) has shown that the regulator intervened to amend or withdraw 4,151 financial promotions between July and September, the highest since it started publishing the data. Retail lending, investments and banking are the sectors with the highest rate of amends to or withdrawal of adverts and amount to…

One in six adults have no savings

7th November 2022 Debt Management and Advice | #save

Nine million people across the UK have no savings and another five million have less than £100, according to new research from the Money and Pensions Service (MaPS). The survey of 3,000 adults, carried out for Talk Money Week, shows that one in six (17%) have nothing put away and another one in ten (9%)…

Arrow appoints appoints Chief Executive Officer to Milan HQ

7th November 2022 Appointments |

Arrow Global Group has announced the appointment of Daniele Patruno as Chief Executive Officer (CEO) of its Milan-headquartered (HQ) Europa Investimenti. Patruno has worked at Europe Investimenti since 2009 and was most recently Head of Credit Strategy. Prior to working at Europa Investimenti, he started his career at Barclays Capital in London. He holds an…

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