Here is an overview of The Money Charity’s latest statistics for July 2019: Personal debt in the UK People in the UK owed £1,640 billion at the end of May 2019. This is up from £1,592 billion at the end of May 2018, an extra £922 per UK adult over the year. The average total debt per household, including mortgages,…

The number of payday loans being taken out by consumers has collapsed by third according to a freedom of information request, made to the Financial Conduct Authority (FCA) by income streaming app Wagestream. The latest statistics for Q1 2019 show that there were 861,781 payday loans taken in the first three months of the year.…

The CCTA association who represent businesses providing credit to consumers has announced that Chief Executive Officer (CEO) Greg Stevens will take over as Chair for the CCTA council replacing John Fellows. Fellows, who has held the role of Council Chair for seven years, said “I’m delighted to announce that Greg Stevens has agreed to take…

Here is an overview of The Money Charity’s latest statistics for June 2019: Personal debt in the UK People in the UK owed £1,637 billion at the end of April 2019. This is up from £1,588 billion at the end of April 2018, an extra £946.00 per UK adult over the year. The average total debt per…

Home collected credit lender, Morses Club has announced that it has acquired U Holdings through its subsidiary Shelby Finance. Morses Club says the acquisition of U Account is an important step in the company’s strategy of building a digital offering to allow its customers to access credit flexibly in a significant growth segment of the…

Peer-to-Peer specialist, LendingCrowd has appointed Robbie McKenzie to the newly created post of General Counsel and Chief Risk & Compliance Officer. A dual-qualified lawyer holding practising certificates in both Scotland and England, Robbie will lead LendingCrowd’s legal, risk and compliance function and act as anti-money laundering officer. A particular focus will be ensuring LendingCrowd adheres…

The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in the Buy Now Pay Later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period, will be in force…

Home collected credit lenderMorses Club has announced the appointment of Andrew Hayward as Chief Financial Officer (CFO), subject to regulatory approval. Hayward will join Morses Club on 1st July 2019 and will also be appointed as an Executive Director to the Morses Club Board. Hayward joins Morses Club from eServGlobal, the ASX and AIM listed…

Non-Standard Finance (NSF) has announced that it has withdrawn its £1.3billion takeover bid for Provident Financial. After talks with regulatory authorities, NSF’s offer for Provident would lapse as the regulatory condition would not be satisfied by midnight today, the company said in a statement. NSF said that after discussions with regulatory authorities, in learning that…