Credit, Collections & Insolvency News
The FCA has today announced that it has extended the pause to the deadline for motor finance firms to provide a final response to customer complaints regarding discretionary commission arrangements (DCAs) which could impact car finance providers until December 2025. In January 2024, the FCA announced a review into whether motor finance customers have been overcharged…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in July 2024 by 1% compared with the same month in 2023. The corresponding value of new business increased by 2% over the same period. In the seven months to July 2024, new business was 2%…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in July 2024 by 4% compared with the same month in 2023. In the seven months to July 2024, new business in this market held steady compared with the same period in 2023. The credit card and personal…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2024 by 11% compared with the same month in 2023. The corresponding value of new business decreased by 10% over the same period. In the first half of 2024, new business was 3% lower…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in June 2024 by 8% compared with the same month in 2023. In the first half of 2024, new business in this market held steady compared with the same period in 2023. The credit card and personal loans…
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Motor insurance premiums have increased by over a fifth in the past year, despite a 2% dip in average prices in the second quarter of this year. The average cost of car cover fell to £622 from a record high of £635 in the previous quarter, but remained 21% higher than the same period last…
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The Financial Conduct Authority (FCA) is extending its investigation into the motor finance market, saying it will set out the next steps of its review into discretionary commission arrangements (DCAs) in May 2025, rather than this September. The regulator said that firms involved in our review have engaged with us constructively, but many have struggled…
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Latest Bank of England data shows that the annual growth rate for consumer credit, including credit cards, personal loans and overdrafts, dipped to 8% in June from 8.4% in May. The annual growth rate for credit card borrowing fell to 10.5%, from 10.8% in May. Net consumer credit borrowing dipped slightly in June to £1.2…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in April 2024 by 9% compared with the same month in 2023. In the first four months of 2024, new business in this market increased by 2% compared with the same period in 2023. The credit card and…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in April 2024 by 8% compared with the same month in 2023. The corresponding value of new business was 7% higher over the same period. In the first four months of 2024, new business by both…
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Go.Compare car insurance has released new data showing that car insurance costs are beginning to fall, with the average insurance premium now at £447. The research showed that the average cost of car insurance fell by £18 in the last quarter – from £465 to £447 – prices are still up on 2023 figures, with the…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in April 2024 by 8% compared with the same month in 2023. The corresponding value of new business was 7% higher over the same period. In the first four months of 2024, new business by both…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in April 2024 by 9% compared with the same month in 2023. In the first four months of 2024, new business in this market increased by 2% compared with the same period in 2023. The credit card and personal…
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