Credit, Collections & Insolvency News
Hinckley & Rugby Building Society has appointed Colin Fyfe as its new Chief Executive. Fyfe is currently Chief Executive at Darlington Building Society, will succeed Chris White who is retiring in early 2019 after 30 years at Hinckley & Rugby. Hinckley & Rugby chairman Colin Franklin said “After a very detailed selection process, the board was…
Read moreLiverpool-based Debt Collection Agency (DCA) and provider of outsourced early arrears and white label solutions, Ardent Credit Services has appointed Nataly Rapoport as the company’s new Risk and Compliance Director. Rapoport joins the growing business from Capita-owned akinika Debt Recovery (formerly iQor) where she held the same position for over 10 years. Rapoport holds a distinction level…
Read moreEquifax and consents.online have announced that they have launched an Open Banking platform which for the first time allows UK consumers and small businesses to manage the sharing of their financial information. The alliance has been established to develop solutions for the UK’s Open Banking initiative which gives online banking customers the ability to share their…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 15% by value and 10% by volume in May, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the…
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Latest figures from the Finance & Leasing Association (FLA) have shown that there is modest growth in second charge mortgage volumes in May. Commenting on the May 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said“The May figures…
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Latest figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in May grew by 11%, compared with the same month last year. Credit card and personal loan new business together grew by 11% in May, while retail store and online credit new business increased by 8%. Second charge mortgage…
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Callcredit has launched a new and unique multi-bureau data solution in Ireland. Recently acquired by TransUnion, which has offices in Cork, Callcredit is already partnering with leading Irish businesses to help them make more informed assessments of consumers’ affordability and risk when it comes to providing credit. Combining data from multiple sources, including the Irish…
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The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint discussion paper on an approach to improve the operational resilience of firms and financial market infrastructures. The paper follows the payments chaos which followed a hardware failure at Visa that hit millions of transactions across Europe in June,…
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Low market interest rates for a long time could have implications for financial stability as well as for the health of individual financial institutions, a report by the Committee on the Global Financial System finds. Financial stability implications of a prolonged period of low-interest rates identifies channels through which a “low-for-long” interest rate scenario might affect the health…
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EDF Energy’s has announced that it is raising the price of its Standard Variable Tariff (SVT) by 6%. This follows a previous price rise of 1.4% announced in April Responding to the news Gillian Guy, Chief Executive at Citizens Advice said “This price rise is a bitter blow for loyal EDF Energy customers, who will be dismayed to…
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New research by credit experts TotallyMoney suggests consumers will pay an estimated £23.8 million solely on interest and transaction fees from using credit cards to gamble on 2018’s World Cup. Credit card payments used for gambling are treated by lenders as a cash advance. This usually means the borrower is charged a transaction fee, a…
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The process of debt collection is no easy task. Debtors make themselves unavailable, hard to approach, and typically are difficult to cooperate with. With that being said, once collectors are able to get in contact with the debtor, it is vital that there is an efficient and compliant process to confirm a collection of payment.…
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New research from equity release lender More 2 life has revealed that unsecured debt amongst 55 to 74-year-olds has risen by more than a third (+34%) over the last four years – or more than twice as fast as the national average (+14%). While 34% of over 55s have some form of unsecured debt, it…
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