Credit, Collections & Insolvency News
The Competition and Markets Authority (CMA) has announced two new senior appointments. Following an internal promotion, Lucilia Falsarella Pereira, previously an Assistant Director at the CMA, has already started in her new position, as has Fred Houwen, who joined the Competition and Markets Authority from Reckitt Benckiser on 3 January 2017. Tim Geer will join…
Read moreEnergy prices have now become the top concern for British consumers, alongside fuel prices and public spending cuts, according to a survey by Which? Nearly two thirds (64 per cent) of the 2000 people questioned for the Which? Consumer Insights Tracker said they were worried about energy prices – a rise of eight percentage points since…
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Equifax has formed a new strategic partnership with Castlight to launch a real-time affordability platform to support brokers and their clients with mortgage applications. The system will reduce the time it takes to make a mortgage application to as little as ten minutes. The new technology will, for the first time, give consumers the option…
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DFC Global the owner of Dollar UK which includes the Money Shop brand has been put up for sale amid a squeeze on profits following payday fee caps, according to Sky News sources. DFC Global has appointed the US investment bank KBW to sound out potential buyers for the business. Dollar UK brands also include the…
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Ireland raised 4 billion euros at its first 20-year bond sale on Wednesday, drawing more than twice as much demand in a syndicated deal that covered over a third of its minimum funding needs for the year. Kicking off its annual funding drive with an issue placed via a syndicate of banks for the fifth…
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MoneySuperMarket’s annual insight into the nation’s financial stress levels shows over 11 million people (22 per cent) cite daily money worries as their main cause of stress. Financially stressed adults suffer from a range of emotional consequences too, including feeling panicky (37 per cent), overwhelmed (33 per cent), disappointed (31 per cent), exhausted (27 per cent)…
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The Bank of England has published its latest monthly Money and Credit report, showing consumer credit grew by £1.9 billion in November. The 12-month annual growth rate in consumer credit now stands at 10.8% – its highest since October 2005. Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National…
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For the majority of consumers in the UK, bills aren’t getting any clearer or easier to understand, which is confusing customers and wasting an important customer touch point, according to new research from Echo Managed Services. This is despite up to a third of people stating that clarity is the number one billing improvement businesses need…
Read moreThe government’s plans for a fresh round of welfare cuts, dubbed ‘Bedroom Tax 2’, threatens to undermine housebuilding projects, increase homelessness, and weaken public sector finances across Scotland, it has been claimed. According to The Herald, payments to help tenants meet their social housing costs will be capped by the UK government for the first time with…
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Monese, a London, UK-based mobile banking service, has raised $10 million in funding. Backers included Anthemis Exponential Ventures, Korea Investment Partners and STE Capital. The company intends to use the funds to expand into mainland Europe as well as to launch new features like direct debit and credit services. Led by Norris Koppel, Chief Executive…
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The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns. Mastercard UK Holdco Ltd, a subsidiary of Mastercard International is buying VocaLink Holdings Ltd (VocaLink). It already owns and operates credit and debit card schemes Mastercard, Maestro and Cirrus, and has also bid to supply infrastructure services…
Read moreHousehold bills rose by almost £200 in 2016 according to new findings from comparethemarket.com. An analysis of costs across energy, motor and home insurance found that, after a £180 drop in 2015, bills rose by 9.7% in the past year from £2,032 in 2015 to £2,223 in 2016. Key finings in the report included: The…
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Credit broker specialist firm Loan Link Limited has appointed liquidators. Loan Link was based in Cardiff with it’s main activities were brokering loans and arrears management services for its parent company Nemo Personal Finance. Principality Building Society acquired Loan Link Limited and formed second charge lender Nemo Personal Finance in 2004. In February 2015, second charge lender…
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