Credit, Collections & Insolvency News
Leeds-based automotive F&I technology specialist, DealTrak has announced that has employed five new faces, made several internal promotions, and is currently recruiting for nine new roles, as the business gears up for one of its biggest years to-date. With recent figures showing a 13% increase in Q1 proposal numbers, as well as a 10% uplift…
Read moreThe Credit Services Association (CSA) has expressed dismay at suggestions that seemingly only the Financial Services community should be ploughing even more money into the debt advice before current concerns have been properly addressed. The CSA says that calls from Sir Hector Sants for creditors to pay more than the ‘£80 million’ they already contribute…
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Specialist credit risk and collections platform provider LendingMetrics has announced it has appointed a new Project Manager. Katey Watkins, who has a background in telecoms project management, will help deliver LendingMetrics’ automated underwriting products ADP, LMX and OpenBankVison (#OBFREE) to its growing customer base in the finance industry. David Wylie, Director of LendingMetrics, said “Demand…
Read moreThe Financial Conduct Authority (FCA) has announced that it will be introducing new rules designed to prevent harm to investors, without stifling innovation in the peer-to-peer (P2P) sector. When the FCA set its first rules for P2P, it committed to keep these under review as the sector evolved. These new rules are designed to help…
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Private renters will no longer have to pay letting agent fees as the Tenant Fees Act which began yesterday (3rd June 2019). Citizens Advice has called for a ban on fees for a decade and worked with Parliamentarians across the political spectrum to make sure the Bill was as watertight as possible. This included closing…
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Intrum has announced that has reached an agreement with Piraeus Bank to acquire it’s Recovery Management Services platform; Recovery Banking Unit. The Unit will be hived-down into a separate legal entity, valued at €410m, which will be fully consolidated by Intrum. Intrum will acquire 80 per cent of the shares in the new company corresponding…
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Consumer credit increased by £0.9 billion in April, in line with the monthly average increase since July 2018. The annual growth in consumer credit continued slowing, to 5.9% from 6.4% in March – its slowest rate since 2014 – as households limited spending on credit cards and cut back on finance deals. The figures highlighted…
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The UK’s biggest broadband, phone and pay TV companies have committed to put fairness at the heart of their business, after signing up to Ofcom’s new Fairness for Customers commitments. Ofcom has developed commitments to strengthen how companies treat their customers. They aim to help ensure people are always treated fairly by their provider –…
Read moreCyber crime is one of the biggest risks to businesses to date and globally its estimated costs will reach $6trillion by 2021 according to a new report by the Association of Chartered Certified Accountants) (ACCA). The association has teamed up with Chartered Accountants Australia and New Zealand, Macquarie University and Optus to launch the report…
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An independent report says urgent action is required by all energy companies, regulators and government as well as price comparison websites (PCWs) – with support from consumer groups and charities – to better identify customers in vulnerable circumstances and improve the help and support given to them. The report by the Commission for Customers in…
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It has been announced that from 1st June, the process for complaining about enforcement agents (bailiffs) will be streamlined. The Civil Enforcement Association (CIVEA) will no longer review complaints on behalf of its members. With CIVEA no longer involved, all complaints about enforcement agents acting on behalf of local authorities will go straight to the…
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Irish bank, Permanent TSB has been reprimanded and fined €21 million by regulator, Central Bank of Ireland for regulatory breaches affecting tracker mortgage customers The fine to Permanent TSB was in respect of serious failings to 2,007 tracker mortgage customer accounts which were impacted for the period between August 2004 and October 2018. PTSB has…
Read moreCitizens Advice has responded to Ofgem’s announcement that E Gas and Electricity, Economy Energy and Dyball Associates breached competition law. Gillian Guy, Chief Executive of Citizens Advice, said “We’ve known for some time that suppliers who were unprepared and unsustainable were able to get into the energy supply market. Today’s action by the regulator shows…
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