Credit, Collections & Insolvency News
Citysave Credit Union and Fusion Credit Union have announced that the two companies have completed a merger.
The merger integrates all Fusion members into Citysave’s operations. It expands Citysave’s reach throughout Birmingham, Sandwell, Warwickshire, Cannock Chase, South Staffordshire, Solihull, Redditch, Bromsgrove, and Lichfield.
Citysave CEO, Sean Lynch said “By combining our strengths, we are better positioned to offer a lifeline to those who might otherwise fall victim to predatory lending.
“We’re committed to offering fair loans, rewarding savings, and the tools needed to manage money with confidence.”
New research from TransUnion UK has revealed that over eight million people are using Buy Now Pay Later (BNPL) for items under £50, whilst 4% put purchases under £25 on this short-term credit. Over a quarter (26%) of people now prefer to use BNPL over credit cards for everyday spending, with 18 to 24-year-olds (20%)…
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New research by Compare the Market has shown that 469,192 homeowners who took out mortgages in 2020 are facing a substantial increase in monthly payments as they come off five-year fixed-rate deals that had an average interest rate of 2.11%. Any of these homeowners who move onto their current lender’s standard variable rate (SVR) could…
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The Government has announced new legislation will see Buy Now Pay Later (BPNL) lenders fully regulated by the Financial Conduct Authority (FCA), meaning firms will be required to conduct affordability checks on consumers before offering loans. The announcement is backed by brand new reforms as part of the new Consumer Credit Act. The new regulation…
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Global business and technology leaders are already seeing benefits from the use of AI and automation, with over three-quarters (78%) reporting measurable improvements in the ability to detect fraud and manage risk after their organisation’s integration of the technology, according to research by FIS in collaboration with Oxford Economics. To combat this disharmony, businesses across…
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