Credit, Collections & Insolvency News
One in seven (14%) GB adults in debt has hidden debt from a partner, and half of these (7%) are currently doing so, according to a new report relationship support charity, Relate. Feeling ashamed about debt is the number one reason why people hide it from their partner, with over half (51%) giving this reason.…
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The Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) have launched an integrated webchat service which will ensure customers are connected to the most appropriate webchat platform for information on the specific topic they need to discuss. Since January 2016, TPAS and MAS have been working together to ensure telephone helpline callers with…
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A third of UK parents are set to rely on their credit card to fund Christmas spending this year. What’s more, a third of this group also admitted to still paying off debts from the 2016 festive season. The findings – from a poll of over 5,000 parents commissioned by comparethemarket.com for its latest Parentdex…
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“Finance brokerages need better technology to maximise the opportunity afforded by an accelerating bank branch closure programme,” according to Allen Jones, MD at financial technology experts Copernicus. Banks in the UK are set to close a record 762 branches this year, according to a recent Reuters report. It is the latest statistic in what has been…
Read moreWalker Morris has confirmed the appointment Rob Aberdein as a Partner in the Banking Litigation Group business Aberdein will strengthen Walker Morris offering to financial services clients and help to build on the substantial experience for this practice group across the whole of the UK. Aberdein was recently ‘triple ranked’ in The Legal 500 for Debt Recovery and Commercial…
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The Central Bank of Ireland has fined Intesa Sanpaolo €1,000,000 and reprimanded it for four breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010 (the ‘CJA 2010’). Intesa admits the four breaches. The Central Bank’s enforcement investigation identified significant failures in Intesa’s controls, policies and procedures in respect of anti-money laundering and…
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Bank of Ireland UK has confirmed, the completion of its acquisition of Marshall Leasing Ltd which will become part of Northridge Finance. Recently named Fleet Leasing Company of the Year 2017 by the Association of Car Fleet Operators, Marshall Leasing Ltd provides a range of contract hire fleet services including fleet management, risk management, contract…
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New data released by Cifas shows a sharp rise in the number of 18 to 24-year-olds who are letting their bank accounts be used to transfer the proceeds of crime. The statistics reveal a 75 percent increase in the misuse of bank accounts involving 18 to 24-year-olds during the first nine months of 2017, compared…
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New analysis by Citizen Advice has shown that in just three months consumers paid an average of £160 towards unwanted subscriptions like gym memberships, television, insurance and online streaming services. With the rise of subscription services available, Citizens Advice is warning consumers that while it may be easy to sign up for these services, they…
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The UK is on course for the longest period of falling living standards since records began in the 1950s, with the current crunch forecast to last longer than the post-crisis income squeeze, the Resolution Foundation has said in its Budget analysis. The report Freshly Squeezed highlights the unprecedented scale of the economic downgrade handed down to the…
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Consumers’ confidence in their personal finances has fallen to its lowest level in 30 months, according to the latest Lloyds Bank Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders in the UK, those who said they felt positive about their personal finances in October fell by 3pp, from…
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Paragon Banking Group has reported underlying profits of £145 million as it unveiled its full-year results for the period ended 30 September 2017. Total lending grew by 29% to £1.9 billion and included a 21% increase in buy-to-let mortgage lending, with buy-to-let completions reaching £1.4 billion for the year. This strong growth highlights Paragon’s favourable…
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UK Finance has announced the appointment of Jackie Bennett OBE as its new Head of Mortgages. Currently Deputy Head of Compliance at The Northview Group, in her new role at UK Finance Jackie will be responsible for leading the trade body’s mortgage policy development. She will join the organisation in February next year. Prior to…
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