The Money Advice Trust, has published a new guide to support car dealership staff improve support for customers in vulnerable circumstances. The dealership guide ‘Customer vulnerability: decision-making when purchasing a vehicle’ provides practical tools and processes staff can use when engaging with customers. Written by the Money Advice Trust’s Vulnerability experts, Chris Fitch and Colin…

Oodle Car Finance has appointed Equiniti Credit Services (EQCS), as its standby servicer following the successful completion of its first asset-backed securitisation, worth £350 million. The oversubscribed transaction saw the fast-growing, online, used-car finance provider attract demand from 14 European and international bond investors. With EQCS in place as its ongoing standby servicer, Oodle has…

Recent research from the University of Edinburgh Business School has revealed that including gender information in credit scoring models increases the proportion of women accepted for consumer credit without altering the predictive accuracy of these models, The reseearch suggests that women can benefit from gender being taken into consideration in automated decision-making processes, increasing their…

New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 4% by volume and 7% by value in September, compared with the same month in 2018.  In Q3 2019 as a whole, new business grew 3% by volume and 5%…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew by 8% in September, compared with the same month last year. In Q3 2019 as a whole, new business grew by 4% compared with the same quarter in 2018. In September, credit card and personal loan new business together…

A third of young adults use their credit card to pay bills according to new survey findings from 118 118 Money. The research shows that the credit cards are used to purchase holidays (53%), clothes (50.9%) and food (47%). A number even admitted to paying their monthly mortgage or rent payment with a credit card (4%).…

Here is an overview of The Money Charity’s latest statistics for October 2019: Personal debt in the UK People in the UK owed £1,650 billion at the end of August 2019. This is up from £1,604 billion at the end of August 2018, an extra £876 per UK adult over the year. The average total…

Oodle Car Finance has appointed Andrew Lawson as Chief Product Officer. Lawson joins Oodle from peer-to-peer lender Zopa, where he has held the position of Chief Product Officer. Prior to that, he held several senior positions at Oliver Wyman, Capital One Bank and Experian, specialising in driving data driven customer value growth across consumer businesses.…

The Financial Conduct Authority (FCA) has published the complaints figures for regulated firms for the first half of 2019. The data showed an increase in complaints from 3.91m in the second half (H2) of 2018 to 4.29m for the first half (H1) of 2019. The increase in complaints was mainly driven by a 34% increase…

The Financial Conduct Authority (FCA) has announced that it plans to ban the way in which some car retailers, and other brokers in the motor finance sector, receive commission. Currently, some motor finance brokers receive commission which is linked to the interest rate that customers pay.  The broker can set that rate and the FCA…

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