Credit, Collections & Insolvency News
Danko Maras has been appointed as Intrum’s new Chief Finance Officer (CFO). Mikael Ericson, President and CEO of Intrum said “I am delighted to welcome Danko Maras to Intrum. We stand on the threshold exciting opportunities in the years ahead, and will continue to create value for both clients and owners, by continuing to develop…
Read moreBarclays has announced that it will refund some of its loan and credit card customers in arrears. Barclays says the refund will be given to customers who weren’t provided with adequate service. Financial Conduct Authority (FCA) rules state that if a customer is in default or in arrears difficulties, the lending firm should, where appropriate, inform the customer that free and…
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The Financial Ombudsman Service (FOS) is to carry out an internal investigation following a television exposé by Channel 4’on its “Dispatches” programme. Chief Executive Caroline Wayman has replied to a letter from Treasury Committee chair Nicky Morgan and says FOS will appoint an independent party to “better understand and address the concerns raised” by the…
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The 2018 Credit & Collections Technology Awards have now opened for entries. Launched in 2017, the second annual awards seek to recognise excellence in credit and collections technology. The Credit & Collection Awards powered by Credit Connect and judged by independently selected judges from across the industry, who have the enviable task of celebrating the best and greatest innovations in credit and…
Read morePayday lenders have been named and shamed as the most unhealthy form of credit available in the UK, in a report launched in Parliament by RSPH, at an event attended by MPs and campaigners – including actor Michael Sheen – from the End High-Cost Credit Alliance. RSPH is calling for action to end the marketing…
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The number of people living in absolute poverty has fallen by 1 million since 2010, according to statistics by the Department for Work and Pensions (DWP). Figures show that children are around 5 times more likely to live in poverty if they live in a workless household, compared to a household where all adults work. The…
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The Central Bank of Ireland has published its latest mortgage arrears data, Highlights from the report includes: The number of mortgage accounts for principal dwelling houses (PDHs) in arrears fell further in the fourth quarter of 2017; this marks the eighteenth consecutive quarter of decline. A total of 70,488 accounts (10 per cent) were in…
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New figures released by the Finance & Leasing Association (FLA) show growth of 12% in consumer finance new business in January, compared with the same month last year. Credit card and personal loan new business together grew by 12% compared with January 2017, while retail store and online credit new business increased by 13% over…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 7% by volume and 13% by value in January, compared with the same month in 2017. New business volumes in the POS consumer new car finance market fell by 4%…
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The Financial Conduct Authority (FCA) has published its approach to Supervision and Enforcement. When the FCA launched its Mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. These articulate how the FCA carries out its main activities, aiming to provide transparency to its thought process…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that new business figures for the second charge mortgage market in January continued to show growth. Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second charge mortgage market reported growth in January, with new business up…
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Close Brothers Motor Finance has announced that it has appointed Jaco Wilsenach as Chief Operating Officer (COO). Wilsenach succeeds Liam Queegan, who has moved to Nextgear Capital. Wilsenach’s careers spans two decades across finance and tech. He began as operations manager at IT manufacturer HP in South Africa, and subsequently held positions at Barclays, Vodafone and Virgin…
Read moreNewbury Building Society has appointed Kieron Blackburn as Finance Director (FD). Blackburn joins from Ipswich Building Society where he was also Finance Director, holding the role for 10 years.He has also spent 12 years at UCB HomeLoans, a subsidiary of Nationwide Building Society, and seven years at Midland Bank. Blackburn replaces Lee Bambridge has moved…
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