Credit, Collections & Insolvency News
Economic uncertainty and the prospect of tax changes being introduced in the upcoming Budget are behind a slowing appetite for external funding according to Atom bank’s ‘SME Pulse’ for Q3 2024. The quarterly poll of commercial brokers found that there has been a drop off in demand from SMEs for funding. While nearly half (47%)…
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Latest Bank of England of England data has reported that lenders have seen mortgage defaults rose in the three months to the end of September and are expected to do so again in the last three months of 2024. The recent rise in default rates was lower than the banks had expected. However, in the last…
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The Financial Conduct Authority (FCA) has fined TSB £10.9m, having found that the bank’s systems put customers at risk of harm. An investigation found that TSB failed to treat customers in arrears fairly, with more than 230,000 mortgage, overdraft, credit card and loan customers found to have been affected and were paid £100m in redress.…
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