Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has urged banks and payment firms to enhance controls against romance fraud. The FCA has found examples of banks going to significant lengths to protect those at risk of romance fraud. But the regulator also uncovered missed opportunities to prevent these scams, which cost victims £106 million last year. One…
Read more
The UK economy grew by 0.1 per cent in August, according lates to the Office for National Statistics (ONS) data, after contracting by 0.1 per cent in July. The data comes ahead of the Budget next month and new forecasts by the Institute for Fiscal Studies (IFS) which have said that the Chancellor Rachel Reeves…
Read more
Quarterly data from the Bank of England has found that lenders reported the availability of both secured and unsecured credit to households increased in the three months to end-August 2025 (Q3) and is expected to increase over the next three months to end-November 2025. Household demand for secured and unsecured lending for house purchase remained…
Read more
Latest data from UK Finance has found that there were 415 million credit card transactions in July, 2.4 per cent more than in July 2024. The total spend of £22.8 billion was 2.1 per cent higher than July 2024. Outstanding balances on credit card accounts have increased by 7.5 per cent over the twelve months…
Read more
A quarter (25%) of households will pay as much as four times more for the heat they use between now and 1st January 1st, by opting for a plug-in electric heater over gas central heating, according to new research by Utilita. The data reveals households still opt for an electric heater, despite the running costs…
Read more
FinTech Scotland has announced it has appointed Aleks Tomczyk as its new Chief Executive Officer (CEO). Tomczyk replaces Nicola Anderson, who will step down at the end of 2025 to take up new senior director position with Scottish Enterprise. Tomczyk will start the role with immediate effect as designate CEO, to work with Anderson over…
Read more
Confidence in the UK’s ability to regulate fraud has collapsed to a historic low as the payments industry grapples with an explosion in AI-powered attacks, according to a comprehensive three-year analysis revealing the steepest decline in regulatory trust on record. according to analysis by The Payments Association. The research reveals a significant decline in confidence in…
Read more
Vanquis has announced the launch of the Vanquis Benefits Checker, a new digital tool designed to help customers quickly and easily identify benefits and social tariffs they may be entitled to, ensuring fewer households miss out on vital financial support. £24.1 billion of income-related benefits and social tariffs in Great Britain go unclaimed every year.…
Read more