Credit, Collections & Insolvency News
Computershare Loan Services has donated a total of £5,000 to Turn2us and Citizens Advice Maidstone to fund projects supporting people experiencing financial hardship in the second round of funding from its Loan Services Charity Donation Fund. Turn2us will receive £1,500 to fund three workshops for workers and volunteers to help them better assist people in…
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RBS has announced that it has appointed Bruce Fletcher as its new Group Chief Risk Officer, subject to final regulatory approval. Fletcher is currently Chief Risk Officer for HSBC’s Global Retail Banking and Wealth Management business. He will replace David Stephen, who is moving to Westpac following an orderly handover of his responsibilities. RBS Chief…
Read moreProvident Financial has announced its financial results for the first half of this year which indicate a fall in profits. Provident statutory pre-tax profits for the six months to 30 June of £34.6m in H1 2018, down from £73.3m in H1 2017; a drop of £38.7m. Its adjusted pre-tax profits fared better, dropping from £98.6m to £74.9m. Adjusted…
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The Competition and Markets Authority (CMA) has referred Experian’s purchase of ClearScore for an in-depth merger investigation. The CMA found that Experian and ClearScore are the two largest credit checking firms and are each other’s, main competitors. In the CMA initial (phase 1) investigation identified concerns that the merged company would be less likely to innovate…
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Provident Financial has announced that it has appointed Patrick Snowball, as its Chairman and non-executive director. He will join the Board as Chairman on 21st September 2018. Stuart Sinclair, Interim Chairman, will retire from the Board. Snowball s an experienced Chairman, Non-Executive Director and Chief Executive Officer, following a distinguished career in the insurance and…
Read moreFRP Advisory has announced that it has appointed a new Director to join its creditor’s service team. Tony Keehan joins FRP Advisory’s from Baker Tilly Creditor Services, where he was the Manager of the creditor assist team In his new role, Keehan will be working within a team of five and alongside Paul Atkinson, Insolvency Practitioner and…
Read moreQuick Loans has announced it has completed the purchase of the Cheque Centre, with the aim of relaunching the brand. Once the second biggest lender on the UK high street, the Cheque Centre, which had a turnover of over £270million and boasted 300 stores, went into administration in the summer of 2017 after the board decided…
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Encore Capital Group has announced that it has completed its acquisition of the remaining interest in Cabot Credit Management (Cabot) meaning that Cabot is now a wholly owned subsidiary of Encore. The transaction is expected to be accretive to Encore earnings in 2018 and beyond, and Encore’s earnings per share growth are expected to accelerate to…
Read moreThe Credit Services Association (CSA) has been shortlisted within The Association Excellence Awards 2018 for its work in promoting the quality and professionalism of its members in supporting customers in debt and returning monies to the UK economy. A panel of 20 senior figures from UK-wide trade associations have identified the CSA as one of…
Read moreThe Competition and Markets Authority (CMA) has raised concerns that Experian’s purchase of ClearScore may reduce competition for people who want to check their credit score. ClearScore and Experian are the first and second-largest providers of free credit score checking in the UK. Experian is also the largest paid credit score checking provider. Millions of…
Read moreGatehouse Bank has announced the appointment of Karen Faulkner to the key role of Head of Home Finance Operations. Reporting to Tim Blease, COO at Gatehouse Bank, Karen is based in the Bank’s Milton Keynes office and via her teams of case managers and underwriters is responsible for the customer application journey, through to the…
Read moreSpicerhaart Corporate Sales, which offers a total asset management service for lenders including repossessions, part- exchanges, relocation and quick sale schemes, has enhanced its proposition for lenders in relation to interest-only mortgages. Spicerhaart Corporate Sales can introduce lenders to later life specialists who will buy up interest-only portfolios and transfer the customers concerned onto a…
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The Department for Work and Pensions (DWP) has appointed John Govett as the first Chief Executive Officer of the new Single Financial Guidance Body (SFGB). Govett is vastly experienced, having worked in leadership roles across the public, private and charitable sectors including as Group Chief Executive at Ixion Holdings, Managing Director of Surrey County Council,…
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