Credit, Collections & Insolvency News
Irish accountancy firm Smith & Williamson has announced its merger with Dublin-based firm LHM Casey McGrath, creating a total workforce of 135 people based in its two Republic of Ireland offices. The merger positions Smith & Williamson in the top tier of accountancy and financial services businesses in Ireland. It also achieves a key strategic…
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The Financial Conduct Authority (FCA) has fined Tesco Personal Finance (Tesco Bank) £16.4 million for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. The cyber attack took place in November 2016. Cyber attackers exploited deficiencies in Tesco Bank’s design of its debit card, its…
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Responding to the publication by the Authorised Push Payment (APP) Steering Group of its draft Voluntary Code for consultation, Stephen Jones, Chief Executive of UK Finance said “The finance industry is committed to ensuring consumers are better protected from the threat of authorised payment scams. Today marks an important milestone in helping us achieve that. Over…
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Arum has secured a place on the newly launched Digital Outcomes and Specialists 3 Framework (DOS3), run by Crown Commercial Services (CCS). This framework enables central government and wider public sector to select pre-approved suppliers to tender for projects specifically in the digital space. It is expected to be worth around £1billion over the next…
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Darlington Building Society has announced the appointment of Andrew Craddock as its new Chief Executive Officer (CEO). Craddock will join the Society, subject to regulatory approval, on December 1st Craddock has over 30 years of experience in the industry and joins directly from Buckinghamshire Building Society, where he has been the Chief Executive for the…
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Buckinghamshire Building Society has announced that subject to regulatory approval, Gerard O’Keeffe will become its new Chief Executive Officer (CEO). O’Keeffe will begin the role on 19th November. Current Chief Executive Andrew Craddock will leave to join Darlington Building Society. Robin Bailey, Chairman of the Buckinghamshire Building Society said “We are delighted to have Gerard O’Keeffe joining…
Read moreUK Asset Resolution Limited (UKAR), the holding company for Bradford & Bingley (B&B) and NRAM, has concluded a competitive sales process for the sale of a £860m portfolio of equity release loans to Rothesay Life. The portfolio comprises equity release mortgages from the legacy books of NRAM, B&B and Mortgage Express (MX) and is secured…
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Collaboration, communication and consistency are three key ways in which water companies can improve the way they deliver priority support to consumers in vulnerable circumstances, according to new guidance published by the Consumer Council for Water (CCWater).CC Water says March’s severe cold weather – and the rapid thaw that followed – put a spotlight on…
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Citizens Advice has revealed customers who stay loyal to their providers are losing out on over £4 billion a year. The national charity has lodged a super-complaint with the Competition and Markets Authority (CMA), calling for the regulator to outline how the problem can be fixed. The practice of overcharging loyal customers is widespread and…
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Business Secretary has Greg Clark confirmed new appointments to the Competition and Markets Authority (CMA). Martin Coleman joins as Inquiry Chair and Panel Chair. As 1 of 4 Inquiry Chairs, he will be responsible for chairing groups of CMA panel members making decisions on Phase 2 merger inquiries, market investigations and regulatory appeals. The Panel Chair supports the effective…
Read moreOfcom has set out proposals to ensure fairer, more transparent prices for mobile customers who pay for handsets and airtime within the same contract. The regulator says that buying a handset with a mobile contract is a popular way for people to receive a new phone, as it allows them to spread the cost over many months.…
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Energy regulator, Ofgem has opened compliance cases into First Utility, Ovo Energy and Utilita over their poor handling of customer complaints after carrying out its biyearly complaints handling survey. The energy regulator is also expanding recent compliance engagement on complaints handling performance with ScottishPower through a compliance case which includes the results of the survey.…
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Stepchange has published its new four-year strategy that sets out its ambition to double the number of people it can help by 2022 and also plans to launch early intervention services. Independent analysis suggests that the number of people requiring debt advice will soar to two million by 2022. Stepchange says this stands in stark contrast…
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