Credit, Collections & Insolvency News
Consumer loans advanced by Irish banks exceeded repayments by €162 million in the three months to end- May 2017, continuing a trend evident since early-2016. These types of loans typically include car loans, furniture, domestic appliance and holiday loans; with overdrafts and credit cards also included. Credit card debt represented approximately 20 per cent of…
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European Card Fraud for 19 Countries hit a record €1.8 billion in 2016. Fico has launched an interactive map with Euromonitor International shows that the UK had highest card fraud losses in 19 countries surveyed. Report highlights include: Total card fraud losses for 19 European countries studied reached nearly €1.8 billion UK card fraud rose…
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The Bank of England has published its latest monthly Money and Credit report, showing consumer credit grew by £1.7 billion in May, the highest amount since last November and higher than the six-month average of £1.5 billion. The annual rate of growth in consumer credit remained at 10.3% in the year to May. The figures…
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Citizens Advice service in Scotland has published its Energy Advice in Detail report for the year 2015-16, which shows that the most common issues again concerned billing and metering and that suppliers are not doing enough to help those consumers who are on low incomes. This report analyses all of the energy issues upon which Citizens Advice…
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Derek Mitchell will take over as chief executive of Citizens Advice Scotland in August, the charity has announced. Mitchell is currently a chief officer at COSLA, where he has led on work with both the UK and Scottish Governments, as well as other key stakeholders, to ensure Scotland is a welcoming place for new migrants and refugees. Prior to joining…
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The Debt Counsellors Charitable Trust has today published new research which identifies good practice for Local Councils when collecting Council Tax debts. Sevan local councils agreed to be interviewed for the report and based on these interviews, it details recommendations that would allow the collection of council tax in a more responsible, fair and consumer focused…
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The Bank of England has announced that it will force banks to find a further £11.4 billion in the next 18 months to beef up their finances against the risk of bad loans. Banks will have to set aside £5.7bn in the next six months in case future economic shocks mean some borrowers cannot keep…
Read moreDigital change is radically altering consumer expectations in the mortgage market and “raising the bar for what borrowers expect from their home buying and owning experience,” according to research published today by the Council of Mortage Lendrs (CML). Launched at the CML Mortgage Tech UK conference in London, the research Digital Change and Mortgage Borrowers says that technology…
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The merger of Intrum Justitia and Lindorff has been closed. All subsidiaries of Lock TopCo AS (parent company of the Lindorff Group) are fully owned by Intrum Justita AB . CEO & President of the new business will be Mikael Ericson. The combination of Intrum Justitia and Lindorff creates a leading provider of credit management…
Read moreResearch from Callcredit Information Group has revealed that unstructured data (48%), such as social media, socio-economic data (48%) including age, and socio-demographic (42%) data, such as geography, are at the top of the list of data sources that experience leaders are accessing to optimise the customer journey. The findings, which form part of Callcredit’s New…
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Monday 26th June saw the implementation date for the fourth EU Money Laundering Directive (MLD4); time to see if preparations are up to scratch or whether a flurry of FCA fines will be issued. John Marsden, Head of ID and Fraud at Equifax said“The rise in high-profile fines for failing to maintain money laundering defences…
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The British Bankers Association (BBA) latest data from the high street banks shows that consumer credit growth was 5.1% in May, compared with 6.4% in the previous month. Gross mortgage borrowing totalled £13.3 billion in May. Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said: “This…
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New research by Ubamarket has revealed the true extent of the UK’s love-hate relationship with retail loyalty schemes. The white label supermarket app commissioned a survey of more than 2,000 UK adults, uncovering that the majority of consumers (59%) are signed up to at least three different loyalty schemes. Moreover, almost half (46%) of shoppers…
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