Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has determined that the six largest banks Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander have implemented the requirements of the Open Banking roadmap. Open Banking was launched in the UK in 2017 as part of a package of improvements following the Competition and Markets Authority’s (CMA) market investigation into…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in November 2022 by 12% compared with the same month in 2021. In the eleven months to November 2022, new business was 5% higher than in the same period in 2021. The…
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Latets figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes grew by 9% in November 2022 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 6% in November 2022 compared with the same month in 2021. In the eleven months to November 2022, new business was 15% higher than in the same period in 2021. The credit card and personal loan sectors…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in November 2022 by 6% compared with the same month in 2021. The corresponding value of new business decreased by 5% over the same period. In the eleven months to November 2022, new business volumes were…
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Cash usage increased for the first time in 13 years in 2022, as many households respond to the cost-of-living crisis by budgeting with physical money. according to latest data from Nationwide Building Society Data The research showed that more than 30.2 million cash withdrawals were made from Nationwide ATMs last year – a 19 per…
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A quarterly survey of the UK’s financial services firms shows that confidence in the sector increased in the three months to December. An index of confidence rose to 10 from -55 in the prior three-month period, with 95 of the firms reporting higher business volumes and employment growth in the period according to the latest CBI/PwC…
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A poll by insurer Direct Line has found that 25% of households have no money set aside for emergencies, with 32% saying they have stopped saving due to the rising cost of living. The household which indicated that they do have a savings pot, 47% say they have now stopped adding to it. The survey…
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Centrica plc announces that Russell O’Brien will be appointed Group Chief Financial Officer (CFO) and an Executive Director on 1 March 2023. Kate Ringrose will step down as CFO and an Executive Director on 28 February 2023 and is expected to leave Centrica towards the end of 2023 after an orderly transition. Chris O’Shea, Centrica…
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Experian has announced it has launched CreditLock, a new feature that will enable customers to lock their Experian Credit Report at the touch of a button. CreditLock allows CreditExpert and Identity Plus customers to ‘lock’ or ‘unlock’ their Experian Credit Report using a toggle switch in the app or online. Certain high-risk credit applications (such…
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