Halifax has announced that its customers can now benefit from a service feature to protect themselves from gambling-related harm. The gambling card freeze, which is a feature of the banks’ mobile app, was developed in recognition of the ways in which the bank can support customers to manage their money and gamble responsibly. Halifax is…

Debt purchasing group Arrow Global is to develop its fund management capabilities after swallowing a 15.1% rise in costs related to IFRS 16. Despite the group’s profits before tax increasing 65.6% to £42.4m and cashflow increasing 14.7% to £174.4m, underlying profits fell 5.4% to £50.4m in the nine months ending in September. Commenting on the…

The Credit Services Association, the voice of the UK debt collection and debt purchase sectors, has maintained its Silver accreditation from Investor in Customers, and it has been congratulated for continuing to provide an outstanding experience to its Members. The independent Investor in Customers (IIC) assessment process surveys employees, management and customers to determine the…

Credit management service provider, Cabot Credit Management has announced the financial results for nine months ending 30th September 2019. The show that the credit services firm revenues increased to £279.8 million up 12 percent on the £250.5 million from the same period in 2018. Debt purchase collections reached £354.8 million over the first nine months…

To mark World Mental Health Day, four leading banks have announced they are backing Money and Mental Health’s campaign to ‘Stop the DebtThreats.’ Barclays, Monzo, Nationwide and Metro Bank have joined over 30 charities in calling on the government to change out-of-date rules on debt letters, to make them less intimidating, and more supportive to…

The Irish arm of Ulster Bank has agreed to sell €800 million of mortgage, to US distressed debt specialist CarVal Investors. Pepper Finance Corporation (Ireland) DAC will become the legal owner and Servicer of the mortgages, the bank has said in a statement. The portfolio includes 2,800 owner-occupier loans with a face value of €715…

The Credit Services Association (CSA) the trade body representing the debt collection industry has launched #heretohelp, a campaign designed to encourage customers to actively engage with its members at the earliest opportunity. Poor and misleading advice on the internet, that can often make matters worse and not better for the customer. With the support of…

Sainsbury’s Bank has announced that it is to stop selling mortgages with immediate effect. As part of its five-year plan for financial services, it will also end all group capital injections after £35 million in 2019/20. Sainsbury’s Group Chief Executive Mike Coupe said the bank “is too expensive to run” and that its cost-income ratio would…

Irish bank Permanent TSB has announced that it is selling 1,932 home loans that have fallen into arrears to Start Mortgages. Star Mortgages are part of US vulture fund Lone Star. The deal is thought to be worth €264 million, slightly more than half the €506 million that the borrowers owe. Permanent TSB Chief Executive,…

Debt purchaser, Lantern have announced that they have appointed a new Chief Finance Officer (CFO) Andrew Kirk alongside an additional Exec appointment of Chief Technical Officer CTO) Andy McCleod, both of whom join the Lantern team to help deliver our strategy and vision, following the retirement of Trevor Howe. Kirk is a Law graduate, a…

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