New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes fall by 80% in May 2020. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The severity…

TriLine GRC has announced that it has been selected by the Family Building Society to embed an automated solution to improve efficiency and to provide concise and real-time reporting. TriLine GRC will be implementing the compliance and risk management platform, alongside its Triage PRO regulatory horizon scanning module. Triline says the solution will provide Family…

The House of Lords Select Committee on the Social and Economic Impact of the Gambling Industry has warned that more needs to be done to prevent gambling-related harm. The committe says that the liberalisation of gambling by the Gambling Act 2005, the universal adoption of smart phones, and the exploitation of soft-touch regulation by gambling…

The Financial Conduct Authority (FCA) has announced proposals that would provide continued support for users of motor finance and high-cost credit products, who continue to face payment difficulties due to the pandemic. The proposals outline the options firms will provide motor finance, buy-now pay-later (BNPL), rent-to-own (RTO) and pawnbroking customers who are coming to the…

The number of families with children at home who are struggling to pay their bills during lockdown has leapt to its highest level. According to comparethemarket.com’s Household Financial Confidence Tracker, 30% of parents with children at home found it difficult to meet their financial obligations over the past seven days. This represents a seven percentage point rise…

Which? is calling for action to help the most vulnerable after it found that more than a quarter could be at risk of going hungry because they have faced difficulty accessing basic food and essential groceries. With shielding measures due to end soon in some parts of the UK, the consumer champion is calling on…

The Payment Systems Regulator (PSR) has confirmed that it’s new fraud-prevention tool – referred to as Confirmation of Payee (CoP) has now reached widespread usage providing additional protection to consumers and businesses. Confirmation of Payee allows users the opportunity to check the name of the person they wish to pay against the account number they…

A new study into the nation’s finances has shown that a fifth (20%) of consumers believe Coronavirus has been a financial wakeup call, with almost a third (30%) admitting they were unprepared money-wise for the situation. The research, conducted to mark the launch of Zopa’s bank, shows 38% of people are now likely to create…

The Financial Conduct Authority (FCA) has confirmed that the credit card payments freeze could be extended for another three months for customers still suffering from the economic impact of coronavirus. After imposing a three-month pause on repayments for those struggling amid the fallout of the pandemic on the economy, the Financial Conduct Authority (FCA) has…

Elevate Credit, a US-based provider of online credit solutions including credit cards, has announced plans to retreat from the UK market. The  UK unit has been placed under administration, with KPMG serving as the administrator with direct control of the business. Elevate had previously commented late last year, and again this year, that the lack…

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