Credit, Collections & Insolvency News
Debt Purchaser, Lantern has announced the appointment of veteran banking executive Gary Jennison as Non-Executive Chairman. William Ballmann, partner at Gateley PLC, who has been serving as Non-Executive Chairman of Lantern since 2016, will remain on the Board as a Non-Executive Director. With over thirty years’ experience in banking and lending, Jennison was most recently…
Read moreThe Money Advice Trust has announced the launch of the updated CASHflow resource, an online tool which enables people to self-manage their debts, with the support of an adviser. The recent revamp of the online tool brings the style and format of CASHflow from the old Common Financial Statement (CFS) to the new Standard Financial…
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The Financial Ombudsman Service (FOS) has said Banks should not automatically assume customers are at fault when they have fallen victim to a scam. Caroline Wayman, Chief Executive of the (FOS) said “Today, it’s often loopholes in new technologies, rather than in old ones, that fraudsters are using to their advantage. Your first step toward being…
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New research from LiveLend has revealed that more than one in four (26%) people who took out a loan in the last five years were stung by extra costs they’d not noticed. The research showed that most consumers are most likely to be caught out by fees for ‘same day money’ followed by missed or…
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According to new research by the Money Advice Service, in partnership with the National Association of Student Money Advisers (NASMA), around one in ten undergraduate students have fallen behind on or missed payments in the last six months. 11% of students surveyed in April had fallen behind or missed payments on university accommodation, credit cards,…
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The Financial Ombudsman Service (FOS) has published its latest quarterly update about the financial products and services complaints data. The statistics include the number of enquiries and new complaints received, the number of complaints referred to an ombudsman’s final decision, and the proportion of complaints resolved in consumers’ favour. The latest statistics analyse April, May…
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Citizens Advice is calling for better regulation of unaccountable bailiff firms as it reveals households have fallen behind on their essential bills, such as council tax and utilities, by an estimated £18.9 billion. Last year, the charity helped one person every 3 minutes with bailiff issues. In 2014, the government introduced reforms which were meant…
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New research has revealed that 42% of contactless payment users would like to see the limit for transactions increased, with of them 38% saying it could be £50 or higher, while 9% would like to be able to make payments of £100 or more. Currently, individual contactless card transactions are limited to £30 but research…
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Vasileios Madouros has been announced as the Central Bank’s Director of Financial Stability. Announcing the appointment, Deputy Governor Sharon Donnery said: “I am delighted to announce Vasileios as the Central Bank’s new Director of Financial Stability. He brings extensive experience in risk assessment, the development and implementation of macroprudential policy, and stress-testing. His technical knowledge…
Read moreThe Credit Services Association has registered ‘outstanding’ customer service levels in its first ever assessment under the independent Investor in Customers (IIC) assessment process. In being granted a Silver Award, the CSA had to demonstrate a strong desire to meet its members’ needs. It was especially strong in the subcategory of ‘delighting’ its members, and…
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Mortgage servicer, Computershare Loan Services (CLS), has announced its intent to acquire American company, LenderLive Network, LLC, a leading fulfillment and secondary market service provider in the U.S. mortgage industry. Founded in 1999, LenderLive Network (LLN) has offices in the Denver, Los Angeles and Jacksonville, Florida, areas. This acquisition, which is subject to regulatory approvals,…
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Experian has announced that it can now offer mortgage eligibility services to consumers after securing permission from the Financial Conduct Authority (FCA). The permission means Experian will now roll out its eligibility tool to all its customers, giving potential homeowners the opportunity to find out which mortgages they are likely to be accepted for, and how…
Read moreQualco UK has continued its pledge to support a tennis lending library for two Birmingham schools. In association with the Lawn Tennis Association (LTA), Qualco launched the library in summer 2016 in a pioneering scheme that enables students to borrow and use the equipment to play tennis in their own time at home or in…
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