Credit, Collections & Insolvency News
New research by Lowell has found out that over half of people have been targeted by fraud, with almost two-fifths (40%) of consumer have experienced payment card fraud. Fraudulent activity is taking place throughout the UK and the ways in which consumers are being targeted is constantly changing. Fraud committed using a debit or credit…
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Freedom Finance has announced that it has renewed its partnership with the Centre for Social Justice (CSJ) until 2025. The extended relationship will see Freedom Finance support, among other issues, the CSJ’s work investigating the relationship between access to credit, illegal lending and debt advice. Freedom Finance’s Chairperson, Brian Brodie, already sits on the Advisory…
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Risk and data science consultancy, Jaywing, has announced that it has. promoted Carl Ireland to Head of Regulatory Risk. Ireland’s new role will see him supporting firms through impending regulatory changes, including model risk management, IRB, consumer duty, climate risk, and Basel 3.1. With over 15 years’ experience as a consultant for Jaywing and the…
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A survey by data company GfK shows that consumer confidence has unexpectedly bounced back from historic lows to hit the highest level since April 2022. GfK’s consumer confidence index has risen by seven points in February, although the headline score remains at a “severely depressed” -38. While confidence in the general economic situation over the…
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Global information and insights provider, TransUnion has announced the launch of its new Open Banking for gaming solution. The company’s categorisation engine, built with over a billion transactions incorporates more than 330 categories and sub-categories to give gaming operators a quick and easy way to manage their players and promote safer gaming. The Open Banking…
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The average woman in paid employment effectively works for free for nearly two months of the year compared to the average man in paid employment, according to analysis published by the TUC. The gender pay gap for all employees currently stands at 14.9%. This pay gap means that working women must wait 54 days, nearly…
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New research by Fluro has found a surge in personal loan requests as consumers consolidate their debts.. The study reveals that the UK consumer lending market has experienced a spike in activity in January 2023, with Fluro’s data tracking the highest numbers of loans requested since the summer. The year began with just over a…
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Global information and insights company TransUnion has officially been named among the UK’s Best Workplaces for Wellbeing. Awarded by Great Place to Work, a global authority on workplace culture, the recognition is based on colleague feedback, and assesses individuals’ experiences of wellbeing at work, taking a holistic view on how the company supports work-life balance, sense…
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Complaints to the Financial Ombudsman Service (FOS) against Buy Now Pay Later (BNPL) firms have jumped 36% over the last three years according to research by Creditspring. The research found that 220 complaints were made against BNPL firms during 2022, compared to 208 in the previous year and 162 in 2020. Creditspring says that the…
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Data from Barclays has revealed that 91.2% of card transactions were contactless last year, up from 85.6% of eligible card transactions being contactless in 2021. The research found that the average contactless user made 220 ‘touch and go’ payments last year, up from 180 in 2021, with the average value per transaction rising 18.5 per cent…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business by value and volume fell in December 2022 by 6% compared with the same month in 2021. In 2022 as a whole, new business grew 9% by value and 3% by volume compared with 2021. The consumer new…
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Consumer finance new business grew by 13% through 2022 compared to the previous year according to the latest Finance & Leasing Association (FLA) data. The credit card and personal loan sectors together reported new business up by 17% in 2022 compared to 2021, despite credit card rates reaching their highest level since 1998 and continued…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 4% in December 2022 compared with the same month in 2021. In 2022 as a whole, new business was 13% higher than in 2021. The credit card and personal loan sectors together reported a fall in new…
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