Credit, Collections & Insolvency News
Transave Credit Union has abbiyunced that it has appointed fintech and consumer finance executive Jake Ransonas as a Non-Executive Director. The appointment comes as the UK’s credit union sector is entering a period of significant expansion. Adult membership reached 2.16 million in 2025, while the recently launched Credit Union Growth Plan sets an ambitious target…
Read more
Latest Bank of England data has shown that the total assets held by Credit Unions increased by nearly £100,000 to £4.99 billion in 2025, up 2% from the previous year. Membership also continued to grow, increasing by 0.80% to 2.29 million members. Total income increased by 6.03% in 2025 to £444.47 million, following growth of…
Read more
The Buy Now, Pay Later (BNPL) sector will come under the regulation of the Financial Conduct Authority (FCA) from today (Wednesday 15th July), seeing the launch of stronger protections in place for consumers. New YouGov polling commissioned by StepChange reveals the increasing popularity of BNPL products, but raises the concern that many are using it…
Read more
The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
Read more
The Financial Conduct Authority (FCA) has published a review into whether Annual Percentage Rates (APRs) help consumers understand borrowing costs, with the regulator seeking views on whether it should change how these are communicated in credit advertising. APRs indicate the yearly cost of borrowing, including interest and fees. A representative APR means at least half…
Read more
The Association of British Credit Unions (ABCUL) has announced it has rebranded to become All Together Money. All Together Money says that the change in name reflects a renewed commitment to bringing credit unions together, strengthening their collective voice and helping them grow in a fast-changing world. Built on cooperation, not competition, All Together Money…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 5% in February 2026 compared with the same month in 2025. In the first two months of 2026, new business in this market was 4% higher than in the same period in 2025. The credit card and…
Read more
The UK is facing a growing financial literacy crisis, with millions of households navigating credit without fully understanding how it works, according to new research from Creditspring. As borrowing becomes faster and more accessible, consumers risk making costly, but entirely avoidable, financial decisions. Across the UK, understanding of even the most basic credit concepts remains…
Read more
A study by the University of Bristol’s Personal Finance Research Centre and Aberdeen Group Charitable has shown a sharp increase in those aged 40-59 using Buy-Now-Pay-Later loans (BNPL). These loans are currently accessed by 18% of households (up from 15% in May 2025), and while BNPL use is highest among younger households, growth has been…
Read more
The Financial Conduct Authority (FCA) has outlined new measures for Buy Now, Pay Later (BNPL) lending, which will aim to simplify information for borrowers whilst ensuring income checks and support for those in financial difficulty. Lenders must now be authorised and comply with the FCA’s Consumer Duty, ensuring clearer information on agreements and affordability checks.…
Read more
Research by Pepper Money has found that more than 16 million people have now experienced adverse credit, showing that rising living costs and financial pressures are driving a sharp increase in credit struggles across the UK, the highest figure since the study began nine years ago. The data showed that adverse credit is now increasingly common…
Read more
Contracts for Difference (CFD) providers have been warned by the Financial Conduct Authority (FCA) to provide fair value, after its review found some firms had not risen to the Consumer Duty. Introduced in July 2023, the duty set a higher standard for consumer protection in financial services. The FCA says that good practice was in…
Read more
Latest data from the Bank of England on the Credit Union sector shows that adult membership grew 33% to 2.16 million in Q1 2025, a quarterly rise of 7,076 and an increase of 43,905 compared to Q1 2024. The total value of assets held by Credit Unions rebounded slightly in 2025 Q1, increasing 0.14% to…
Read more