Credit, Collections & Insolvency News
New research from Oakbrook has found that the most complex repayment profiles in its dataset belong to higher earners in middle age. The data highlighted that applicants aged 45 to 54 earning £50,000 or more manage five or more separate credit repayments a month, the highest of any group measured. Across the population measured, applicants…
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The Government has announced new reforms. Under the proposed changes, someone who is a member of a Credit Union but moves out of the area it is situated will now be able to refer a relative or household member to become a member and access its services, strengthening their financial resilience. Currently, someone must live…
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Fair4All Finance and Stream have announced a £5 million partnership to deliver affordable workplace loans to workers who might otherwise be pushed towards predatory lenders or miss out on credit altogether. The partnership combines an initial £3 million impact investment from Fair4All Finance with a £2 million capital investment from Stream and supports the UK…
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A new report by the Finance & Leasing Association (FLA) is calling for a fresh approach to consumer finance, highlighting its role in employment, mobility and financial inclusion – and the need to better support people who are declined credit. The FLA says the national debate about consumer credit focuses heavily on debt and financial…
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A third (30%) of the lending market is being underserved amid heightening scrutiny around affordability and compliance rules designed to raise the bar for how lending decisions are made, according to the latest market study from Chartis Research and LexisNexis® Risk Solutions. In line with HM Treasury’s push to expand access to affordable credit, nearly…
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New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £110.8 billion of new lending in the eight months to August 2026, 4% higher than in the same period in 2025. Of this total 27.5 billion was provided to…
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Parents are taking different approaches to managing back-to-school costs, with 22% planning to use a credit card, 16% of parents planning to use Buy Now, Pay Later (BNPL) to cover back-to-school costs, and 19% saying they have cut back on other spending to afford the return to school, new research from Compare the Market has…
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Transave Credit Union has announced 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…
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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…
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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…
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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…
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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…
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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…
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