Credit, Collections & Insolvency News
The annual rate of consumer price index (CPI) inflation rose from 2.3% in March to 2.7% in April – higher than consensus estimates of 2.6%. Meanwhile, the retail price index (RPI) measure of inflation jumped from 3.1% to 3.5% over the same period, also slightly higher than consensus expectations. This is more bad news for…
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The Credit Services Association (CSA) has appointed Ruth Greaves as its new Head of Sales and Business Development. Greaves primary role will be to further drive membership while also working with members and the wider industry on the Association’s learning and development initiatives. Ruth will promote the extensive portfolio offered by the CSA including the…
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Lindorff has signed an agreement to acquire Italian Debt Collection Agency (DCA) Gextra. Gextra is a specialised player in small debt collection services. It is controlled by doBank through Italfondiario. Gextra is a management consulting and outsourcing services company serving the credit management services industry in Italy. Gextra manages credit recovery activities through a network…
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Equifax and Castlight have formed an alliance with Oakbrook Finance, the owners of consumer loan brand Likely Loans, to develop new products for the 2018 Open Banking initiative. Under Open Banking, bank transaction data will play a crucial role in lending decisions. Lenders will have access to real-time and historic account and transaction information, boosting…
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The Council of Mortgage Lenders (CML) has released its latest member data and shows that the number of outstanding residential interest-only loans has been falling by between 10 and 13 per cent a year since 2012. In the CML survey covers well over 90% of all residential mortgages outstanding, reflecting the industry’s ongoing commitment to…
Read morePeer-to-peer lending platform RateSetter has announced that Paul Manduca has been appointed as Non-Executive Chairman. Manduca will join the Board on 1st June ahead of becoming and will become Chair on 17th July, when current Chairman Alan Hughes’ three-year term expires. Manduca is Chairman of the global FTSE 100 insurer Prudential. His distinguished career in asset…
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The Central Bank of Ireland has released its latest Credit and Debit Card Statistics from Quarter 1 in 2017. Here is an overview of the key statistics in the report Debit card point of sale spending in March increased 14 per cent on the same month in 2016. In March 2017over €2.7 billion of debit card…
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The number of county court judgments (CCJs) against consumers in England and Wales rose to the highest level in over a decade during the first quarter of the year, according to figures released today by Registry Trust. In Quarter 1 (Q1) 2017, there were 298,901 debt judgments registered against consumers in England and Wales. Rising…
Read moreLatest figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business grew 8% by value and 15% by volume in March, compared with the same month in 2016. Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The second charge mortgage market has faced significant change…
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The Information Commissioner’s Office (ICO) has dealt with record numbers of data protection incidents, nuisance marketing cases and individual complaints. Releasing the ICO’s annual performance statistics for 2016/17, Deputy Commissioner Simon Entwisle revealed that the regulator had received more reported data protection breaches and fined more companies for unlawful activities than ever before. The ICO’s free…
Read moreOfcom is to review the cost of calling some telephone services, to ensure people are protected from high prices and unfair practices. People have been spending less on mobile and landline calls in recent years, and consumers generally have a wide choice of call packages and phone services. However, Ofcom is concerned about the rising…
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New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in March, compared with the same month last year, and 6% growth in Q1 2017 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same month…
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Target Group, welcomed Secretary of State for Foreign & Commonwealth Affairs Boris Johnson to its headquarters in Newport on Friday (12th May). The Foreign Secretary visited the successful South Wales based business with the Conservative parliamentary candidate for Newport West, Angela Jones-Evans. Bill Alley, co-Group CEO at Target Group, said: “We were delighted to host…
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