Credit, Collections & Insolvency News
Chris Pond has been appointed the new Chair of the The Lending Standards Board (LSB). Pond will take over as Chair of the LSB at the end of March. He succeeds Lord Hunt of Wirral who has completed 6 years as LSB Chairman, recently overseeing the move from the Lending Code to the outcome-focused Standards…
Read moreNava Finance Limited today announced that the Financial Conduct Authority has confirmed that as of 27 January, 2017 Nava Finance Limited is authorised and regulated by the FCA, enabling Nava to begin offering personal loans to UK consumers. The company is now focused on working towards an initial launch date, which will be announced when…
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The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services…
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FEATURE: Brexit and Debt Recovery When it comes to Brexit, we’re in unchartered waters. The government has yet to invoke Article 50, and is still working out, and trying to negotiate, acceptable terms. Prior to the referendum, as a member of the common market, the UK benefitted from over 50 EU-established trade agreements with the…
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Research by Callcredit reveals that 81% of UK consumers are more likely to share their personal data once the general data protection regulation (GDPR) is in place. The legislation was originally drawn up by the European Commission to harmonise data protection within the EU and to govern the export of personal data beyond the EU’s…
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Integrated property services group Styles & Wood has appointed Ian Wilson as managing executive of governance, risk and compliance (GRC) software as it targets new growth opportunities for its established technology business. Wilson joins Styles&Wood Technologies with 27 years’ experience in the financial services, industry, including senior business development roles at software providers Hitec Laboratories, Sopra Group…
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HSBC has voluntarily agreed to set up a redress scheme for customers who may have suffered detriment by paying an unreasonable debt collection charge imposed by HFC Bank Ltd (HFC) and John Lewis Financial Services Limited (JLFS), the Financial Conduct Authority (FCA) has announced today. Both HFC and JLFS are now part of HSBC Bank…
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Dharam Prakash Gopee , appeared at Westminster Magistrates Court charged with offences under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000. These charges arise from an investigation carried out by the Financial Conduct Authority (FCA) into Mr Gopee and companies he controls including Reddy Corporation Ltd, Speedy Bridging Finance Ltd…
Read moreThe Carrington Dean Group has become the first full service debt advice and solutions business in Scotland to receive Financial Conduct Authority (FCA) authorisation, . Carrington Dean Chief Executive Peter Dean said “Vulnerable people seeking debt advice need to be able to trust they are dealing with an ethical and expert firm that will always put…
Read moreEE has been fined £2.7 million by Ofcom for overcharging tens of thousands of its customers. The penalty is the result of an investigation into the mobile phone provider, which found that the company broke a fundamental billing rule on two separate occasions. First, EE customers who called the company’s ‘150’ customer services number while…
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The Money Advice Trust has welcomed an expected commitment from the Prime Minister to review GP charges for the Debt and Mental Health Evidence Form. The form enables people with mental health and debt problems to access additional support from their creditors, such as freezing interest payments and other forbearance measures. The announcement of a government…
Read moreAs the six month countdown to implement the fourth EU Money Laundering Directive (MLD4) begins, companies need to ensure they are ready for the new requirements, or they risk hefty penalties. John Marsden, Head of ID and Fraud at Equifax said “At least a hundred billion pounds, equivalent to the GDP of Ukraine, is reportedly being…
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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…
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