Credit, Collections & Insolvency News
The Association of Mortgage Intermediaries (AMI) has responded to the FCA consultation on a new directory which will continue to show Appointed Representatives after the Senior Managers & Certification Regime has been extended. This meets the requirements set out under the Mortgage Credit Directive. The AMI says it supports the addition of mortgage advisers to this list to…
Read moreThe Competition and Markets Authority (CMA )has decided that the proposed merger between SSE Retail (SSE) and Npower can proceed, following a thorough review. The decision comes after a provisional clearance from the inquiry group of independent Competition and Markets Authority (CMA) panel members, who investigated how the merger would affect householders. The group specifically examined competition concerns around…
Read more
Consumer spending across a wide range of UK business sectors is being restricted due to low awareness levels around the availability of point-of-sale credit options. The figures come from a new research report, which found that if consumers didn’t have the immediate funds to purchase something they wanted, just 6% would think to check if…
Read more
Nearly half (48%) UK consumers incorrectly believe they are protected by their bank from authorised transfer fraud, according to the Shieldpay Fraud Tracker. The research from secure payments provider, Shieldpay also reveals a further two in five (38%) people do not know how or if they are protected from this type of scam. Of the people…
Read more
More than a quarter of UK consumers would be happy for service providers to share their personal data with other suppliers or third parties, according to new research. The findings were reported in a study completed by outsourced customer contact specialist Echo Managed Services. The company surveyed 1,000 UK residents on their knowledge and attitudes to debt and asked…
Read more
Pepper Money (PMB) has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd, from its current owner Patron Capital, as part of its ongoing UK growth strategy. The purchase, which remains subject to regulatory approval, will see Pepper Money acquire Optimum Credit’s entire business, which includes a UK second charge…
Read more
Business outsourcing specialist Target Group has appointed Marcella Rich to its Executive Committee as Director of Client Services. Rich who brings a wealth of experience in business process outsourcing and financial services having held senior positions in Capita, HPES and Marlborough Stirling, will be responsible for leading a team of Account Managers, Account Directors and…
Read moreCitibank Europe has been fined €1,330,000 and reprimanded by the Central Bank of Ireland in respect of six breaches of its Code of Practice on Lending to Related Parties. The Code requires credit institutions, including banks and building societies, to have the proper systems, controls, independent oversight and regulatory reporting processes in place to support…
Read more
A new report by the Institute of Fiscal Studies (IFS) has found that 40% of young adults cannot afford to buy one of the cheapest homes in their area even with a 10% deposit. The report said house prices in England have risen by 173% over two decades. Average pay for 25-34 year-olds has grown…
Read more
Law firms Breeze & Wyles and Taylor Rose TTKW have announced that we will merge. Taylor Rose TTKW are a top 200 law firm. In a company statement Breeze & Wyles said “Our clients will continue to receive the same high level of service managed by the same dedicated teams, however, we will no longer be known…
Read moreNew research from Direct Line Life Insurance has revealed that over 6.9 million parents percent) have given their children ‘their inheritance’ early, to try to reduce the amount of inheritance tax payable on their estates. This amounts to a total of £227 billion, at an average of £32,920.10. A further 6.5 million (19 per cent) parents…
Read more
Investor in Customers (IIC) has awarded credit management firm Intrum UK its gold standard for ‘exceptional’ customer service for the fifth consecutive year. The company’s five-year run is unprecedented for businesses originally assessed as gold. IIC’s ratings are based on a survey of Intrum’s customers, employees and management – assessing how well the business understands…
Read more
The legislation for the introduction of The Debt Arrangement Scheme (Scotland) Amendment Regulations 2018 has been approved by Scottish parliament and signed by Jamie Hepburn MSP Minister for Business Fair Work and Skills. The regulations will come into force on 29th October 2018. and will allow for a more sustainable and flexible scheme, making it…
Read more