Credit, Collections & Insolvency News
Banks cannot delay tackling transfer fraud a single day longer, according to new research by Which? The research shows that a staggering £674 a minute is lost to this devastating crime. The consumer champion is calling for all banks to urgently reassure their customers that they will be better protected against fraudsters by signing up…
Read more
Discussions on energy collections are debated discussions in the latest episode of the podcast series, by software specialist Flexys. In the second episode, the software specialist is joined by Ovo Energy, Dwr Cymru Welsh Water and Bristol Energy for a discussion about how energy and water suppliers can improve the sector’s reputation for managing customers…
Read more
Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…
Read more
Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio, including the complete transfer of related balances and ongoing administration of relevant accounts. The Bank, which has offered mortgages since 2012, currently serves over 23,000 customers with total lending balances of £3.7billion. Gerry…
Read more
Over two fifths (43%) of people are put off selling items or services online due to the risk of fraud according to newly published Fraud Tracker data from Shieldpay, the secure payments provider. The rise of online marketplaces, such as Facebook Marketplace, Gumtree and Shpock, has supported a rapid increase in people buying and selling…
Read more
The average consumer doesn’t begin to worry about their debt until it hits £6,012, a new study has found. The research also revealed many only consider themselves to be ‘in debt’ once they are £3,882 in the red. But they only begin to see the deficit as a ‘serious concern’ when they owe more than…
Read more
Consumer and business insights specialist Equifax has moved offices to 1 Angel Court, Bank, at the heart of the City of London. Previously located in Marylebone, the move will place Equifax at a prestigious central London address within ten minutes’ walk of seven mainline and underground stations. It brings the firm closer to a large…
Read more
One Savings Bank has announced that it has appointed Jaywing as independent risk model validation partner, as it embarks on its IRB programme Credit risk analytics experts, Jaywing, announces that it has partnered with specialist lender One Savings Bank within its second line function, to independently review and challenge its models, with the first task…
Read more
International technology-led services and payments specialist, Equiniti Group, has announced the opening of a new office in Milwaukee, Wisconsin. The investment is expected to bring 180 jobs to Milwaukee’s Parkland Place northwest side. Parkland Place will provide further scale and service capabilities in support of Equiniti’s 670 US clients, extending the existing Centres of Excellence…
Read more
Citizens Advice is calling on Ofgem to use its forthcoming vulnerability strategy to set out how it will better support vulnerable energy customers who fall behind on their bills. The call comes in a new report from the charity detailing the experiences of people in vulnerable circumstances – for example, a disability or long-term health…
Read more
People are at risk from fraudsters masquerading as enforcement agents (bailiffs) and small businesses are a popular target, according to the civil enforcement industry’s trade body Civil Enforcement Association (CIVEA). The warning comes after CIVEA identified cases of fraudsters using the government’s public register of enforcement agents to demand payments for bogus government debts. The…
Read more
The latest UK card stats reveal that the growth in credit card spending is down to 4.9% in February. In February 2018 the corresponding figure was 8.3%. However, the use of credit cards continues to increase as a payment method in the UK. There were 246 million transactions on cardholders’ credit cards in February 2019,…
Read more
Broadband, phone and TV (Media) customers must be told when their contract is coming to an end, and shown the best deals available, under new rules announced today by Ofcom. Ofcom wants customers to be able to take advantage of choice in broadband, phone and TV, and get the best deals for their needs. This…
Read more