Credit, Collections & Insolvency News
ONS latest crime figures show banking and credit fraud is up 13% in the year ending June 2016. Commenting on the latest figures John Marsden, Head of ID and Fraud at Equifax said “Companies have stepped up their fraud protection with multiple layered fraud defenses, but this often moves criminal activity to channels that are…
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The Financial Conduct Authority (FCA) has published findings from its thematic review of packaged bank accounts. In 2013, the FCA introduced new rules on packaged bank accounts. These were designed to help customers understand whether the product was right for them. Firms are now required to establish and record whether customers are eligible to claim…
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Only 4% of decrees and judgments relating to debt in Scotland were marked as satisfied in the third quarter of 2016, compared with 15% in England and Wales, according to figures from Registry Trust. Registry Trust is the non-profit organisation which collects judgment information from jurisdictions across the UK, including small claims and summary causes…
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According to a new survey commissioned by Gocompare.com Energy, 5% of homeowners are in arrears with their gas or electricity bills, owing suppliers on average £121.20. The survey also found that only 13% of those struggling to pay their energy bills had contacted their supplier to discuss their situation and ask for help. The report surveyed over 1,280…
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The London Institute of Banking & Finance has launched launched a CeMAP® Diploma. The new CeMAP® Diploma builds upon the success of The London Institute of Banking & Finance’s industry-leading level 3 qualification CeMAP®. To gain the advanced qualification, advisers will need to complete a new level 4 Advanced Mortgage Advice unit, building on CeMAP’s…
Read moreThe Financial Conduct Authority (FCA) has today announced that it will consult on new guidance on the treatment of customers with mortgage payment shortfalls (commonly referred to as arrears). This guidance covers remediation for mortgage customers who may have been affected by the way firms calculate these customers’ monthly mortgage payments. The FCA has identified…
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New figures from the Insolvency Service Ireland show that almost 900 people applied to put a formal insolvency arrangement in place with their lenders. The figures were for the three months to the end of September. This was up 102% on the same three months last year. But the number of heavily-indebted people who secured a…
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The Royal London National Funeral Cost Index reveals funeral debt in the UK has risen to £147million as people borrow from friends and family or the ban to fund the last wishes of loved ones. Royal London’s research highlights that the average cost of a funeral in the UK is now £3,675, with 93,359 adults…
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Equifax Touchstone analysis of the intermediary marketplace reveals significant growth in the mortgage market with sales up £1.2bn in September, a rise of 8.4% on August. Residential and buy-to-let sales for the month totalled £15.1billion. September buy-to-let figures jumped by 19.0% to £2.9billion, while residential sales increased by 6.2% to £12.2billion. Regional performance for the…
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Annual fraud and cybercrime losses in the UK have grown to the equivalent of £210 per adult, according to research. A total of £10.9 billion was lost to the UK economy in the 12 months to April, prevention group Get Safe Online said. Fraudulent emails and messages directing people to websites that gather victims’ personal…
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Barry Glenn has joined Leeds Building Society as its new Head of IT Security. His previous role was at Clydesdale and Yorkshire Bank, where he was information security lead technology consultant. Glenn has over 30 years’ experience in the industry, including 20 years with the US Navy in IT followed by 11 years as a contractor…
Read moreLindorff has agreed to enter into separate strategic co-investment partnerships with CarVal Investors and AlbaCore Capital. CarVal Investors and AlbaCore Capital intend to deploy up to €350m in aggregate as part of the co-investment partnerships, to be invested in unsecured non-performing loans in Europe. CarVal Investors is a leading global alternative investment fund manager focused on opportunistic…
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Yorkshire Building Society has announced the appointment of Mike Regnier as Chief Executive. Regnier, who joined the Society in 2014, is currently Chief Customer Officer and Executive Director. He is expected to take up the role at the UK’s second largest building society on 1 January, 2017, subject to regulatory approval. John Heaps, Yorkshire Building Society…
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