Credit, Collections & Insolvency News
Lowell, a provider of credit management services, specialising in debt recovery, data analytics and consumer insight, announced today that its UK operating businesses – Lowell Portfolio 1 Ltd; Lowell Financial Ltd and Fredrickson International Limited – have been granted full Financial Conduct Authority (FCA) authorisation. James Cornell, Group Chief Executive, said: “We are delighted that…
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The Queen’s speech had announced plans for the Financial Guidance and Claims Bill. The bill’s key elements will focus on: the establishment of a new statutory body, accountable to Parliament, with responsibility for coordinating the provision of debt advice, money guidance and pension guidance the body’s activities to be funded through existing levies on pension…
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John Griffith-Jones, Chairman of the Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), has confirmed that he will leave both organisations at the end of his term of office, on 31 March 2018. Griffith-Jones commented “I committed to a five year fixed term to chair the FCA and, in so doing, to help…
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The British Bankers’ Association (BBA) has published principles to improve customer access. The principles have been developed by the BBA’s third party access working party to improve customer access under the vulnerability taskforce principle 5 (easy for friends and family to support). The principles relate to legal instruments for third-party access, including guardianship and intervention…
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Debt charity Christians Against Poverty has announced that it has been officially authorised by the Financial Conduct Authority (FCA). Chief Executive Officer Matt Barlow said: “We fully support the FCA in its mission to ensure best practice in the industry on behalf of the consumer. It has long been our goal to offer the very…
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The Debt Advisor has announced that the company has secured full authorisation from the Financial Conduct Authority (FCA) to offer full advice and debt solutions including debt management to individuals. Beverley Budsworth, MD and Insolvency Practitioner, who originally set up the business in 1999 said :The business has grown over the years and is proud…
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Irish regulator, The Central Bank of Ireland has fined the Bank of Ireland (BOI) €3,150,000 by the Central Bank of Ireland in respect of anti-money laundering (AML) and terrorist financing compliance failures. The Central Bank of Ireland reprimanded BOI for twelve breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010 (the ‘CJA…
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Volumes of data handled by telcos are growing fast, and the pressure is on to minimise breaches. With the implementation of new general data protection regulation (GDPR) just one year away Steve Martin, Data Protection Officer at Equifax, said “Mobile data traffic is set to increase seven-fold between 2016 and 2021,[1] and telcos need to work…
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Energy UK has commented on the Conservative manifesto to implement a price cap. Lawrence Slade, chief executive of Energy UK said: “The energy industry stands ready to work with the next government to help deliver an energy system that works for everyone. “Targeting support for vulnerable customers and making sure the market works fairly for everyone…
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Non-Standard Finance has announced that Loans at Home, the group’s home-collected credit business, had received its full FCA authorisation. Loans at Home was established in 1938 and occupied the number three position in UK home credit, according to Non-Standard Finance. A Non-Standard Finance statement said “Since acquisition, Loans at Home’s management team has completely revitalised all…
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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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Zopa has been granted full authorisation by the Financial Conduct Authority (FCA) for peer-to-peer lending. Giles Andrews, co-founder and Chairman of Zopa said “Zopa, both individually and as a founder member of the Peer-to-Peer Finance Association (P2PFA), has campaigned for peer-to-peer lending to be a regulated activity for a number of years. We are delighted to…
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