Credit, Collections & Insolvency News
Taxpayers lost £10.9 billion to fraud and error as the previous government’s pandemic response left the front door open to fraud, an independent commissioner report has found. The Covid Counter Fraud Commissioner, Tom Hayhoe’s, final report to Parliament finds many schemes – including Bounce Back Loans and Eat Out to Help Out – were rolled…
Read more
Latest Bank of England figures show that mortgage lending recorded its strongest quarterly jump in five years in the third quarter of 2025, with gross advances rising 36.9% to £80.4 billion. The increase marks the sharpest quarterly gain since 2020 amid a renewed surge in the UK property market. The data showed that the outstanding…
Read more
Latest data from Barclays shows that consumer card spending declined -1.1 per cent year-on-year in November – the greatest fall recorded since February 2021 (-9.5 per cent), and considerably lower than the latest CPIH inflation rate of 3.8 per cent. Amid ongoing consumer uncertainty, essential spend dropped -2.9 per cent, marking seven consecutive months of…
Read more
Sophie Hutcherson has been reappointed as a Non-Executive Director to the Financial Conduct Authority (FCA) Board by the Economic Secretary to the Treasury. Her first three-year term will end on 17th April 2026. Following her reappointment, Hutcherson will continue to serve on the FCA Board for a second three-year term to expire 16 April 2029.…
Read more
The Financial Conduct Authority (FCA) has confirmed changes to simplify its rules and lower costs for insurers, while maintaining appropriate levels of protection for smaller commercial customers. The regulator’s final rules aim to give insurance firms greater flexibility and responsibility, including determining the frequency of their product reviews and how much continual professional development (CPD)…
Read more