Credit, Collections & Insolvency News
UK Asset Resolution Limited (UKAR) which incorporates Bradford & Bingley (‘B&B’) and NRAM has issued its results for the year ended 31 March 2017 (‘2016/17′). UKAR’s mission is to maximise value for the taxpayer, whilst serving our customers well and treating all our stakeholders fairly. Highlights from the results: Balance Sheet reduced by a further…
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Regulated mortgage robo adviser,MortgageGym.com has announced that Henry Ritchotte, former Chief Operating Officer and member of the management board of Deutsche Bank AG, has joined with immediate effect as investor and adviser to the company. Ritchotte has also made a personal investment of £500,000 in MortgageGym. He has over 24 years’ experience in the investment banking…
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Here is an overview of The Money Charity’s latest statistics for July 2017: Personal debt in the UK People in the UK owed £1.537 trillion at the end of May 2017. This is up from £1.489 trillion at the end of May 2016 – an extra £929.97 per UK adult Based on May 2017 trends, the UK’s…
Read moreNew Association, UK Finance has announced its board of directors. Stephen Jones, chief executive of UK Finance, said: “The boundaries between banking services are blurring, enabling the industry to become more efficient and customer-focused.” For the UK’s finance and banking sector, these changes present new opportunities and fresh challenges which require a coordinated voice to best…
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The Financial Conduct Authority (FCA) has published proposals on how consumer credit firms should manage risks related to how they pay and manage the performance of their staff. The FCA expects all firms to consider the way they pay and incentivise staff, and ensure they manage any potential harm to consumers. The FCA is consulting…
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Citizens Advice has said that extending the prepayment meter cap to those eligible for the Warm Home Discount is “the best way to protect the worst off.” The national charity has been calling for the price protection for the most vulnerable since 2014 and has welcomed the announcement from the regulator Ofgem that will consult…
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Ofwat has announced the appointment of Emma Kelso as Senior Director, Customers and Casework and Lisa Commane as Senior Director, Business Improvement. Commane joins Ofwat after 10 years at Ofgem where she has been responsible for wholesale markets, was a member of Ofgem’s Enforcement Oversight Board and has also worked on retail markets. She previously…
Read moreA poll independent loans comparison site Readies.co.uk today revealed public sector workers are turning to payday loans to make ends meet, given the sharp rise in prices, increasing the pressure on those “just-about-managing”. In real terms, average pay was higher in January 2006 than it is now – according to ONS data released last week. Readies.co.uk, a…
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The Financial Conduct Authority (FCA) Chairman, John Griffith-Jones, has today announced the appointments of new Chairs for the FCA’s independent Practitioner Panel and Markets Practitioner Panel. Anne Richards, Chief Executive of M&G, becomes Chair of the FCA Practitioner Panel from 1 August 2017. She has been a member of the Panel since 2013. She succeeds…
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The number of mortgage approvals in Ireland rose by 35 per cent over the year to May 2017, according to new figures from the Banking & Payments Federation Ireland (BPFI). The BPFI Mortgage Approvals Report shows 4,124 mortgages were approved in May 2017. Some 2,148 (52.1 per cent of total volume) were for first-time buyers…
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Ofgem has announced plans to protect vulnerable consumers as part of a wider programme to make sure all consumers get a better energy deal. Options being considered include introducing a safeguard tariff for vulnerable consumers which would protect them from overpaying for their energy. Research from Ofgem and the findings of the Competition and Markets…
Read moreFraud is the most commonly experienced crime in England and Wales and most happens online. While the landscape for tackling online fraud is complex, the Home Office’s response is not proportionate to the threat, according to the National Audit Office (NAO). The City of London Police is the national lead force for online fraud and…
Read moreA new trade body representing over 300 firms in the UK providing credit, banking, markets and payment-related services has launched. The finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. The association’s members offer a wide range of financial and advisory services across both mutual and…
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