Credit, Collections & Insolvency News
UK property finance firm Lendy has collapsed with Damian Webb, Phillip Sykes and Mark Wilson of RSM appointed as administrators following a court order on Friday (24th May 2019) afternoon. The administrators are working closely with the Financial Conduct Authority (FCA) who consented to their appointment over the company. The lender was under investigation by…
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New protection for individuals tricked into transferring money to fraudsters comes into force today (Tuesday 28th May). The new code aims to make sure that customers making payments are not penalised for fraudsters’ criminal actions – even in circumstances where the customer’s bank has done everything reasonably expected of it to protect the customer. The…
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Anders Engdahl has been appointed new Chief Financial Officer (CFO) of Intrum. Engdahl is currently Chief Investment Officer. Mikael Ericson, President & CEO of Intrum said “Anders Engdahl has since he joined Lindorff in 2014, gained deep understanding of our core business, both debt collection and portfolio investments. He has a broad and long experience…
Read moreThe Financial Conduct Authority (FCA) has confirmed the deadline for notifications for the temporary permissions regime (TPR) will be extended to the end of 30 October 2019. TPR would allow EEA-based firms passporting into the UK to continue new and existing regulated business within the scope of their current permissions in the UK for a…
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Mike Regnier, Chief Executive of the Yorkshire Building Society has been elected as the new Chair of the Building Societies Association (BSA). He takes up this role with immediate effect. Regnier has held the post of Deputy Chair since May 2018 and succeeds Stephen Mitcham, Chief Executive of the Cambridge Building Society. At the same…
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The Open Banking revolution is being hampered by outages that banks are taking weeks to fix, according to figures from SME lender Growth Street. The conclusions made by the lender are based upon analysis of publicly available data which the Open Banking Implementation Entity (OBIE) published on their API monitoring tool. The data shows that…
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The Credit Services Association (CSA) has been shortlisted by the Trade Association Forum (TAF) in its Best Practice Awards 2019 for the Skills Development Award. The TAF has shortlisted the CSA for its work in helping to develop the next generation of credit and collections professionals and for supporting best practice in Compliance, Risk and…
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European credit management Lowell, has announced positive quarterly results, for the period 1 January to 31 March 2019, showing the strong momentum carried over from 2018 with an income increase of 9%. Colin Storrar, CFO, said “I am pleased with the start we have made to the year. These results are the natural progression of…
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Retired homeowners are increasingly using property wealth to clear unsecured debts and mortgages to strengthen their later life finances, new data from the UK’s independent equity release adviser Key shows. The number of customers using money from their homes to pay off credit cards and loans hit a three-year high of 35% in Q1 2019 which…
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New research by eToro has found that the female of the species to be more financially responsible than their male counterparts. According to the report, women are more likely to know exactly how much money they have in their current and savings accounts. It also emerged men spend more money on impulse purchases, dropping £65…
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OpenBanking and auto-decisioning technology provider LendingMetrics has unveiled a new-look website to fill what it says are giant OpenBanking knowledge gaps. The site – www.lendingmetrics.com – has been re-designed to spell out how OpenBanking can dramatically improve the quality of underwriting and boost standards of compliance. A series of questions determines the type of business…
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UK Finance has published its Q1 2019 figures for mortgage lending in Scotland, Wales, Northern Ireland, and London, which highlight steady growth across the regions. In Northern Ireland both the first-time buyer and remortgaging markets saw major improvements, in line with previous quarters. There were 2,440 new first-time buyer mortgages completed in Northern Ireland in…
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Visa’s UK Consumer Spending Index, compiled by IHS Markit, pointed to a further marginal decline in overall household spending at the start of the second quarter. Expenditure fell -0.5% on an annual basis during April, which was slightly quicker than the -0.2% reduction seen in March. Consumer spending has now fallen in each of the…
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