Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has announced that it. has appointed Therese Chambers and Steve Smart as joint Executive Directors of Enforcement and Market Oversight. The expansion of the FCA’s enforcement and market oversight leadership team, following Mark Steward’s departure. The FCA say that the appointments will support the FCA’s ongoing transformation to become a more…
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Sub-prime lender Amigo Loans is to be liquidated after months of trying to come up with a rescue plan ended in failure. The company said Amigo said it would stop lending with immediate effect and will be placed into an orderly wind-down, with all surplus assets transferred to the creditors of its compensation scheme. Those owed compensation…
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The Bank of England has raised interest rates for an 11th consecutive time to 4.25% following the surprise rise in inflation. The Monetary Policy Committee (MPC) voted for this change by a majority of 7-2, with the minority vote wishing to keep the rate at 4%. Commenting on the rise, Paul Broadhead, Head of Mortgage…
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The Bank of England has raised interest rates for an 11th consecutive time to 4.25% following the surprise rise in inflation. The Monetary Policy Committee (MPC) voted for this change by a majority of 7-2, with the minority vote wishing to keep the rate at 4%. Commenting on the announcement Federation of Small Businesses (FSB)…
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The cost of living crisis looks set to deepen generational financial inequality as Gen Z and millennials are four times more likely to need to take on new debt this year to meet rising costs according to research by Credit Karma The research found that nearly three quarters (70%) of UK currently use credit, holding…
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The digital revolution is in full swing! Perhaps we are so engaged and invested on a daily basis that we fail to recognize how powerful the present developments are and how they transform firms and their connections with their business partners. Credit management is involved in all aspects of a commercial relationship, from the initial…
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The Department for Work and Pensions has published new figures which show that the number of people living below the poverty line in working households is 1.5 million higher than in 2010. Commenting data, TUC General Secretary Paul Nowak said “If you work hard, you shouldn’t have to worry about making ends meet. But working…
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European asset manager Arrow Global has announced it has reached hard cap of its flagship strategy Arrow Credit Opportunities II (ACO II) fund at approximately €2.75 billion including a General Partner commitment of €275 million. ACO II received extensive investor demand from both new and existing partnerships, which significantly exceeded its fundraising target of €2.5…
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