14th September 2023 - Credit Connect

One in ten fear vulnerable relatives have lost money through poor financial decisions

14th September 2023 Arrears and Recoveries | #vulnerable

Close to half (45%) of adults are concerned about the financial decision-making of their more vulnerable relatives as they get older, with one in ten (10%) saying their relatives have made poor financial decisions in the past two years resulting in some form of financial loss, according to data from a recent report by AKG,…

Chetwood appoints new group Chair

14th September 2023 Company News |

Chetwood Financial has announced Ian Lonergan as its new Group Chair. Lonergan has worked in financial services for over 30 years. He was previously the CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK. The parent company of Precise Mortgages and…

Ofgem extends prepayment meter rule

14th September 2023 Consumer Collections | #energy

Ofgem has announced that energy suppliers have been banned from forcibly installing prepayment meters for people over 75 with no support in their house and homes with children aged under 2, The energy regulator has confirmed that the Code of Practice for the involuntary installation of prepayment meters (PPMs) will be made mandatory. It has…

Cash payments rise for first time in a decade

14th September 2023 Consumer Lending | #cash usage

Payments made with cash rose for the first time in a ten years on 2022. Latest figures from UK Finance has shown that whilst more than half of all payments are being made by debit card, the number of cash transactions has risen by around 400,000 to 6.4 billion in 2022. Overall, there were 45.7…

Melton Building Society and Lending Metrics agree partnership

14th September 2023 Company News |

Melton Building Society has announced it has appointed LendingMetrics to deliver next-generation decisioning software. The mutual society, which was founded in 1875, is set to use LendingMetrics’ award-winning Auto Decision Platform (ADP) solution to support its underwriting team in the coming weeks. ADP is a universally-integrated SaaS solution that handles real-time execution of credit reference,…

HSBC awarded Mental Health Accessible accreditation

14th September 2023 Arrears and Recoveries | #Mental Health Accessible accreditation

The Money and Mental Health Policy Institute has awarded HSBC UK its ‘Mental Health Accessible’ accreditation for taking steps to improve support for vulnerable customers Research from the Money and Mental Health Policy Institute shows that people with mental health problems encounter a range of difficulties when accessing and using banking services and other essential services.…

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