Credit, Collections & Insolvency News
Capita has announced the sale of the Capita Asset Services businesses (CAS) to Link Administration Holdings (Link Group) for a cash free, debt free consideration of £888 million. Capita Asset Services offers a range of services including mortgage and loan servicing. Capita has previously entered the UK mortgage servicing Crown Mortgage Management and Vertex Mortgage…
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The Finance and Leasing Association’s latest figures see continued growth in second charge mortgage lending during May 2017. Commenting on new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “Second charge mortgage new business has ebbed and flowed over…
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Hammersmith & Fulham Council and Debt Purchaser 1st Credit have launched a new joint venture: H&F Ethical Debt Collections, at the Local Government Association’s annual conference in Birmingham.The partnership changes the way public sector debts are handled, ending the two-tier treatment of customers in debt by applying Financial Conduct Authority (FCA) standards to public as…
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Regulated mortgage robo adviser,MortgageGym.com has announced that Henry Ritchotte, former Chief Operating Officer and member of the management board of Deutsche Bank AG, has joined with immediate effect as investor and adviser to the company. Ritchotte has also made a personal investment of £500,000 in MortgageGym. He has over 24 years’ experience in the investment banking…
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New Association, UK Finance has announced its board of directors. Stephen Jones, chief executive of UK Finance, said: “The boundaries between banking services are blurring, enabling the industry to become more efficient and customer-focused.” For the UK’s finance and banking sector, these changes present new opportunities and fresh challenges which require a coordinated voice to best…
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The Financial Conduct Authority (FCA) Chairman, John Griffith-Jones, has today announced the appointments of new Chairs for the FCA’s independent Practitioner Panel and Markets Practitioner Panel. Anne Richards, Chief Executive of M&G, becomes Chair of the FCA Practitioner Panel from 1 August 2017. She has been a member of the Panel since 2013. She succeeds…
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Fraud is the most commonly experienced crime in England and Wales and most happens online. While the landscape for tackling online fraud is complex, the Home Office’s response is not proportionate to the threat, according to the National Audit Office (NAO). The City of London Police is the national lead force for online fraud and…
Read moreDerek Mitchell will take over as chief executive of Citizens Advice Scotland in August, the charity has announced. Mitchell is currently a chief officer at COSLA, where he has led on work with both the UK and Scottish Governments, as well as other key stakeholders, to ensure Scotland is a welcoming place for new migrants and refugees. Prior to joining…
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The merger of Intrum Justitia and Lindorff has been closed. All subsidiaries of Lock TopCo AS (parent company of the Lindorff Group) are fully owned by Intrum Justita AB . CEO & President of the new business will be Mikael Ericson. The combination of Intrum Justitia and Lindorff creates a leading provider of credit management…
Read moreExtra Energy has received the lowest score of Citizens Advice’s star rating system for energy suppliers for the second time – with a lower overall score. The company received 2.05 stars, lower than the 2.5 stars it received for the period between October and December 2016. The firm has previously received record low scores for…
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Lowell, a provider of credit management services, specialising in debt recovery, data analytics and consumer insight, announced today that its UK operating businesses – Lowell Portfolio 1 Ltd; Lowell Financial Ltd and Fredrickson International Limited – have been granted full Financial Conduct Authority (FCA) authorisation. James Cornell, Group Chief Executive, said: “We are delighted that…
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Callcredit Information Group has acquired the Spanish Confirma group of companies, comprising Confirma Sistemas and Soluciones Confirma, which specialise in fraud prevention and anti-money laundering (AML) software solutions. The acquisition, sees Callcredit take a majority shareholding in the Madrid- headquartered business. Callcredit entered the Spanish market in 2015 and has been developing its business and…
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Home Catalogue Specialist N Brown has announced that it will be closing up to five Simply Be and Jacamo dual-fascia stores. This decision takes into account weak high-street footfall, both current and predicted, together with significant future business rate increases for some stores. Together, these five stores contributed £5million revenue but accounted for the entire £2million…
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