The Financial Conduct Authority (FCA) has published an updated consultation on rules to help customers in persistent credit card debt. This follows an April 2017 consultation paper on proposed remedies to help millions of people get out of expensive longer-term credit card debt. These include firms, at designated timeframes, prompting customers to make faster repayments…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 7% in October, compared with the same month last year. The plant and machinery finance and business equipment finance sectors reported new business up in October by 6% and 13% respectively, compared…

New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 7% in October, compared with the same month in 2016, while the value of new business was up by 2% over the same period. The percentage of…

The Financial Conduct Authority (FCA) has published a report setting out feedback received from roundtables on its review of high-cost credit. The report summarises the issues and ideas raised by participants to three FCA roundtables, hosted in September and October 2017. The roundtables covered two areas: a general discussion on alternatives to high-cost credit, and…

The winners of the inaugural 2017 Credit & Collections Technology Awards have been revealed. There were sixteen winners (three of which were partnership wins) from the sixteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The Credit & Collections Technology Awards were launched in the Summer and…

Guarantor loans specialist, Buddy Loans, has received full accreditation from the Financial Conduct Authority (FCA). The company which is based in Cheadle, Cheshire, was set-up in 2013 by entrepreneur Nicholas Zapolski to provide consumers, who have been refused loans by mainstream lenders, with affordable and accessible credit. Recently Buddy Loans has secured an investment of…

Paragon Banking Group has reported underlying profits of £145 million as it unveiled its full-year results for the period ended 30 September 2017. Total lending grew by 29% to £1.9 billion and included a 21% increase in buy-to-let mortgage lending, with buy-to-let completions reaching £1.4 billion for the year. This strong growth highlights Paragon’s favourable…

Blair Nimmo has been named as Global Head of Insolvency at KPMG. Nimmo has more than 30 years’ experience of corporate restructuring, including advisory and formal insolvency. Nimmo succeeds Richard Heis, who retired from the firm earlier in the year. Nimmo joined KPMG in 1991, after training with Cooper and Lybrand’s restructuring practice. In March…

20% of restaurant businesses in the UK currently exhibit warning signs that they are at risk of going insolvent according to new research by Moore Stephens. The research shows that 14,800 restaurants are faced with the threat of going under as Brexit and rising labour costs put a strain on the industry. Since the Brexit…

Computershare has launched a £20,000 charity fund to help prevent financial hardship and support those experiencing money problems. From December Computershare’s Loan Services division will donate up to £5,000 to good causes every quarter, and is currently seeking submissions from charities wanting funding for initiatives focused on financial difficulty. Andrew Jones, Chief Executive Officer at…