Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in October 2025 by 6% compared with the same month in 2024. In the ten months to October 2025, new business in this market was 5% higher than in the same period in 2024. 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 October 2025 by 3% compared with the same month in 2024. The corresponding value of new business was 8% higher over the same period. In the ten months to October 2025, new business volumes grew…
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Tandem Bank has announced the appointment of Russell Strevens as its new Chief Technology Officer (CTO). Strevens brings a proven track record in building and scaling modern technology across financial services and other regulated industries. He joins Tandem from Small World Financial Services, where he served as CTO, leading global engineering, cybersecurity and technology teams, and…
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New data from AJ Bell has found that one-in-five (19%) people have less than £1,000 saved in an emergency cash pot. The data showed that younger people tend to have less saved than older people – 21% of over 55s have £20,000 or more saved in an emergency cash pot, while 37% of 18 to…
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Latest Bank of England figures show that mortgage lending recorded its strongest quarterly jump in five years in the third quarter of 2025, with gross advances rising 36.9% to £80.4 billion. The increase marks the sharpest quarterly gain since 2020 amid a renewed surge in the UK property market. The data showed that the outstanding…
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Latest data from Barclays shows that consumer card spending declined -1.1 per cent year-on-year in November – the greatest fall recorded since February 2021 (-9.5 per cent), and considerably lower than the latest CPIH inflation rate of 3.8 per cent. Amid ongoing consumer uncertainty, essential spend dropped -2.9 per cent, marking seven consecutive months of…
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Sophie Hutcherson has been reappointed as a Non-Executive Director to the Financial Conduct Authority (FCA) Board by the Economic Secretary to the Treasury. Her first three-year term will end on 17th April 2026. Following her reappointment, Hutcherson will continue to serve on the FCA Board for a second three-year term to expire 16 April 2029.…
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The Financial Conduct Authority (FCA) has confirmed changes to simplify its rules and lower costs for insurers, while maintaining appropriate levels of protection for smaller commercial customers. The regulator’s final rules aim to give insurance firms greater flexibility and responsibility, including determining the frequency of their product reviews and how much continual professional development (CPD)…
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Research by Synectics Solutions has revealed that 23% of individuals who commit credit card-related fraud go on to offend again, the highest repeat-offending rate of any major financial product. This figure has grown from 17% to 23% in just five years, representing a 35% increase. Repeat offenders are also spreading their activity across multiple organisations,…
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A new report from the Financial Conduct Authority (FCA) looks to promote the growth of the mutuals sector, which includes customer or worker-owned organisations and credit unions. The FCA’s report offers a series of recommendations aimed at encouraging Credit Unions to expand and to offer more services. Credit Unions serve 2 million members and hold…
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UK Finance has released its latest Household Finance Review, which showed that mortgage lending activity returned to growth in Quarter 3 (Q3), following a quieter second quarter caused by many transactions having been brought forward ahead of Stamp Duty changes in April. Refinancing also increased, with volumes up nearly 50 per cent year‑on‑year as more…
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The Financial Conduct Authority (FCA) has announced that it will lift the pause on the handling of motor finance complaints on 31st May 2026, rather than 31st July 2026 as originally consulted on, to ensure consumers receive fair and timely outcomes. The regulator says that this timeframe enables the regulator to finalise and begin implementing…
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The Financial Conduct Authority (FCA) has announced it is working with major firms to test Artificial Intelligence (AI) in a safe place to better understand the potential benefits and risks. The AI Live Testing initiative, the first of its kind in the financial sector, has been set up to help firms that are ready to use…
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