2nd February 2023 - Credit Connect

GB Bank appoints new Chair

2nd February 2023 Appointments |

Specialist bank GB Bank has appointed a new Board Chair and recruited two new board members. The North East-based bank has appointed SME lending expert Mike Kirsopp as Chair with property and banking industry figures Andrew Telfer and Ian Henderson joining as Non-Executive Director and Investor Director respectively. Kirsopp has over 40 years of experience…

FCA announces proposals to ban debt packager referral fees

2nd February 2023 Arrears and Recoveries | #debt advice

The Financial Conduct Authority (FCA) has announced that is to push ahead with proposals to ban debt packager firms from receiving referral fees from debt solution providers, following further analysis of the market. The FCA initially consulted on a ban in November 2021 after identifying a lack of adequate management of the conflict of interest…

Late payments impact mental health of business owners

2nd February 2023 Commercial Collections and Recoveries | #late payment

Research jointly conducted by Federal Management and Frontline Collections has found that 79% of small business owners say that their mental health suffered as a result of business late payments. The majority of smallest businesses (less than 5 employees) said they are constantly worrying about not being paid at all. A further 41% said that late payment…

Water bill rise could be a tipping point for one in five

2nd February 2023 Arrears and Recoveries | #water bills

The largest rise in the average household water and sewerage bill for almost 20 years could prove a tipping point for the one in five customers already struggling to pay. The Consumer Council for Water (CCW), the independent voice of water consumers, has issued the warning in response to Water UK confirming the average household…

Payment Systems Regulator appoints Chair

2nd February 2023 Appointments | #payments regulator

The Payment Systems Regulator (PSR) has confirmed the appointment of Aidene Walsh as its new Chair for a three-year term, effective immediately. Walsh has been Interim Chair of the PSR since April 2022. The PSR Chair is appointed by the Financial Conduct Authority (FCA) with approval from the Treasury. This is the first time the…

Freedom Finance extends partnership with Koyo

2nd February 2023 Company News |

Freedom Finance has announced that it has extended its relationship with Koyo. The new agreement will mean that customers declined for loans from Koyo will automatically be able to connect to Freedom Finance’s proprietary matching marketplace. The integration will link up declined customers to a panel containing over 100 of the UK’s leading lenders and…

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