Credit, Collections & Insolvency News
Today marks the start of a UK rule change required by the Competition and Markets Authority (CMA) as part of its Retail Banking Investigation which means that banks must now set up an alert system which will help their customers avoid unnecessary charges. During an investigation, the CMA found that banks receive around £1.2 billion a…
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Data and debt recovery solutions specialist TDX Group has announced it has raised over £58,000 in 2017 for a number of local and national charities. Activities over the year included a charity ball, carol singing, bike rides and raffles. The funds from these events were donated to organisations such as Nottingham’s Children’s Bereavement Centre, which…
Read moreProvident Financial Group has announced the appointment of Malcolm Le May as Group Chief Executive Officer (CEO), with immediate effect. This follows a Board process led by Stuart Sinclair over recent months. Stuart Sinclair, who led the Nomination Committee process to appoint the new Group CEO said: “It became clear to the Board as the search…
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UK Finance has announced the appointment of Santander’s Miguel Sard as the new chair of its Mortgages Product and Service Board. The UK Finance Mortgages Product and Service Board brings together senior industry figures to discuss key issues facing the sector. Miguel replaces Peter Hill, CEO of Leeds Building Society, who led the Council of…
Read moreEuropean collections specialist, Intrum is organizing a hackathon in partnership with Tieto which will seek to examine how innovation can help to improve individual consumer’s financial well-being. Over the course of the two-day hackathon event in Helsinki, Finland on April 11-12 this year, participants from education institutions, startups, SMEs and other organisations will create new…
Read moreCallcredit Information Group’s colleagues have selected Leeds Mind as their charity of the year for 2018. Callcredit has committed its annual fundraising efforts to help the charity. Leeds Mind will increase mental health awareness and engage with employees across the company throughout 2018 in a bid to raise vital funds to help support the services…
Read moreCustomers who stay loyal to their essential service providers could be paying £987 more per year – equivalent to four months’ worth of food for the average household – new research from Citizens Advice reveals. The report found that charging loyal customers more than new customers for the same service is a common practice across…
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Walker Morris has become a member of the Money Advice Liaison Group (MALG), reinforcing its commitment to improving its financial services offering and the advice given to those facing financial difficulty. MALG was formed in 1987 and is a not-for-profit organisation whose purpose is to encourage organisations to ‘work together to improve the lives of…
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The Financial Conduct Authority (FCA) has published an update on its work in the high-cost credit sector. The update follows a Feedback Statement the FCA published in July 2017 which identified key areas of concern with the sector including overdrafts, rent-to-own, home-collected credit and catalogue credit. Work undertaken since July 2017 has demonstrated an emerging…
Read moreOfgem has chosen Green Star Energy to take on supplying the customers of Future Energy, which went out of business last week. This follows a competitive process run by Ofgem to get the best deal possible for Future Energy’s customers. Green Star Energy is offering Future Energy’s customers the same price as they were paying…
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Ofwat has announced that it will seek to channel innovation in the water sector with a new digital campaign aimed at encouraging water companies to fully embrace innovation and the opportunities it brings. Going live on 6 February, Ofwat’s digital channel – titled Spark! – will run two programmes a week over a four week…
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New research from Mintel has found that the majority of unsecured loan borrowers are living in ignorance as three in five Brits (60%) admit they are unaware of the interest rate being charged. More figures suggest 74% of Brits aged 45-64 with structured personal loans say they do not know the rates they are paying.…
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The number of debt judgments in Jersey fell to a historic low during 2017, according to figures released today by Registry Trust. There were 1,724 judgments registered in Jersey during 2017, 12 percent fewer than in 2016. By contrast, 3,489 judgments were registered in 2010. The number of debt judgments against consumers also decreased 12…
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