Credit, Collections & Insolvency News
Rent to own specialist, PerfectHome has agreed with the Financial Conduct Authority (FCA) a package of redress totalling over £2.1 million. This will be made up of cash payments and balance write-offs for 37,000 customers. PerfectHome (a trading name of Temple Finance Limited) is a rent-to-own firm which provides household goods to customers on hire…
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Clockwise Credit Union has announced an Open Banking partnership with TrueLayer, providing of bank account API’s, to improve access to finance for its members. The innovative new partnership utilises the opportunities provided by Open Banking to allow Clockwise to access member bank account data in order to make more efficient and secure loan assessments. This…
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Research by GoCompare finds that 80% of UK consumers now receive at least one financial service and utility bill or statement electronically 4 out of 5 (80%) UK consumers now receive at least one paperless bill or statement for a financial product or utility, new research from GoCompare has found. However, the result for many…
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Here is an overview of The Money Charity’s latest statistics for March 2018: Personal debt in the UK People in the UK owed £1.576 trillion at the end of January 2018. This is up from £1.52 trillion at the end of January 2017– an extra £1,077.51 per UK adult. Per adult in the UK that’s an average debt…
Read morePrincipality Building Society has appointed Iain Mansfield as its Chief Operating Officer. Mansfield has worked as a chartered accountant in the retail banking and private equity sector for more than 15 years. He joins Principality from the company’s second charge loans subsidiary Nemo. Principality Chief Executive Steve Hughes says: “Having clearly demonstrated his capability to the Board…
Read moreNewcastle Building Society has hired Stuart Miller as Customer Director. Miller joins from Monmouthshire Building Society, where he was director of distribution. Newcastle Building Society Chief Executive Andrew Haigh says: “We are continuing to invest in our Society’s infrastructure and services to ensure we’re providing everything that our customers expect of a modern financial institution.Stuart’s…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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New research from Citizens Advice shows that extending the same rules that cover payday loans to the doorstep lending market could prevent their customers getting into problem debt, and save up to £123 million in interest payments on up to 540,000 loans each year. It is calling on the Financial Conduct Authority (FCA) to give…
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Experian, the global information services company, has announced that it has agreed to acquire ClearScore. ClearScore is UK consumer organisation that matches individuals to personal financial products, offering free credit reports, scores and personal financial education, both online and through mobile devices. Brian Cassin, Chief Executive Officer of Experian said: “In acquiring ClearScore, we will take…
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Debt charity, StepChange has published new insight on its clients, revealing that debt problems appear to be particularly acute for certain groups, such as tenants and single-parent families. The charity’s Statistics Yearbook reports that 619,946 new clients contacted the charity for debt advice last year – 3.5% more than in 2016, and 22% more than…
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Teachers Building Society has announced the appointment of Julie Nicholson as its new Chair of the Board of Directors, succeeding current Chair, Roy Spragg, when he completes his term of office at the end of April. Julie will be officially appointed as Chair on 26 April 2018. Nicholson has been a Non-Executive Director at Reliance…
Read moreThe Money Advice Service has announced that Sarah Porretta is to be appointed the new Interim Director of Financial Capability The appointment was made by the Money Advice Service Board. Poretta was most recently Head of Financial Inclusion and Education at Lloyds Banking Group, where she led their work on financial capability, and is already…
Read moreProposed reforms that would allow high court enforcement officers and certificated enforcement agents to enforce small sum County Court Judgments and Consumer Credit Act judgments have been put to the Government in a joint industry submission. The joint submission by the High Court Enforcement Officers Association (HCEOA) and the Civil Enforcement Association (CIVEA) has been…
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