Credit, Collections & Insolvency News
Women in finance and accounting take seven more years, on average than their male counterparts to reach executive level, as they battle with a ‘two-tournament gender system’ throughout their careers according to new research. The slow path to the top: the careers of women in finance and accounting report commissioned by ACCA (the Association of Chartered…
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The Central Bank of Ireland has published the Behaviour and Culture Report into the five main Irish retail banks – AIB Group, Bank of Ireland Group, permanent tsb, Ulster Bank Ireland and KBC Bank Ireland. The report, involving reviews conducted by the Central Bank in collaboration with the Dutch Central Bank (De Nederlandsche Bank –…
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New data published by the Financial Conduct Authority (FCA) as part of its annual report has revealed that 0.3 per cent of borrowers has failed to make their mortgage payments within six months of taking out their loan. This figure compares to 0.25 per cent of households falling behind on their payments after six months…
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The National Audit Office (NAO) has said that the government has lost more than £600m in revenue from selling student loans “too cheaply.” According to the NAO report, the government’s sale of its first batch of student loans was carried out efficiently, but its method for determining whether the sale would secure value for money…
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UK Finance has publishes its annual mortgage lenders data for 2017. In an accompanying blog it addressing the underlying trends revealed by the data, highlighting the growth in lending by challenger and specialist lenders. The mortgage data showed that in 2017 a gross total of £257bn in lending was completed by its members, up 4 percent on…
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Gatehouse Bank has announced the appointment of Karen Faulkner to the key role of Head of Home Finance Operations. Reporting to Tim Blease, COO at Gatehouse Bank, Karen is based in the Bank’s Milton Keynes office and via her teams of case managers and underwriters is responsible for the customer application journey, through to the…
Read moreThe Financial Conduct Authority (FCA) has today announced it is retaining its existing definition of vulnerable consumers in response to its Consumer Approach consultation, with new guidance on vulnerability set to be published next year. The consultation, which was launched in November last year, proposed a new definition for vulnerable consumers. A range of organisations…
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Online research from Equifax has revealed the lack of awareness of banking options among consumers. When presented with a list of digital banks 60% hadn’t heard of any of the brands and only 20% would opt for a challenger bank if opening a new account today. The survey, conducted with Gorkana, showed 44% of consumers…
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British lenders expect consumer borrowing to pick up in the third quarter, according to the Bank of England’s latest credit conditions survey. The report found “a significant increase in default rates on credit card loans” between April and June this year, indicating that consumer budgets could be coming under pressure. The Bank of England is…
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UK Finance has released its Mortgage Trends update for May. Highlights from the report include: There were 32,200 new first-time buyer mortgages completed in the month, some 8.1 per cent more than in the same month a year earlier. The £5.4bn of new lending in the month was 12.5 per cent more year-on-year. The average…
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The Financial Conduct Authority (FCA) has called for considerate use of big data, artificial intelligence and machine learning algorithms in financial services. The FCA is urging firms to use the technologies in a way that is not detrimental to customers’ trust. Speaking at a Reuters event earlier in the week, Charles Randell, FCA payment systems…
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A further 67 companies have signed up to HM Treasury’s Women in Finance Charter, including J.P. Morgan, Bupa, Admiral Group, Equifax, Investec Asset Management, and Yorkshire Building Society, taking the total number of signatories to 272. This means that the Charter now covers over 760,000 financial services employees in the UK. John Glen, Economic Secretary to…
Read moreA new survey from Aegon shows that 14% of people think they will still be paying their mortgage at age 70. The research says that traditionally, mortgages were paid off well before typical retirement ages but new research from pension and investment company Aegon has found that 14% of people believe they will still be…
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