Credit, Collections & Insolvency News
Real-time credit data and insights, Infinian has announced the appointment of Carl Riches as its new Chief Growth Officer. Riches will spearhead Infinian’s next phase of revenue growth as it builds on the momentum generated under CEO Emma Steeley, hired in September 2025. He will also be responsible for deploying Infinian’s increasing suite of solutions,…
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Haboo Money, the adaptive engagement layer for consumer credit, has announced a partnership with Transave Credit Union. The partnership is designed to modernise how credit unions engage with members by introducing a more flexible digital experience that better reflects the realities of modern borrowing. The partnership is focused on creating a more personalised and supportive…
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The Financial Conduct Authority (FCA) has announced a £9.1 billion motor finance redress scheme, a significant reduction from earlier estimates of £11 billion. The number of qualifying agreements has decreased from 14.2 million to 12.1 million, leading to lower overall costs. Millions of motor finance customers will receive compensation this year under a Financial Conduct Authority (FCA)…
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Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased to £4.8 billion in February, from £4.2 billion in January. The rise in February is also above the previous six-month average of £4.5 billion. The data also shows that net mortgage approvals for house purchases increased to 62,600 in…
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UK Finance has launched a new Accessible Cards Code of Practice, designed to help customers with accessibility needs or impaired vision use payment cards in-store and online. The Code means the UK is the first country in the world to have national common accessibility guidelines for flat printed payment cards. The new guidelines cover physical…
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GfK’s index of household sentiment dropped to minus 21 in March from minus 19 in the previous month. This is the weakest reading since April last year. The data showed that the decline was driven by a six-point drop to minus 37 in expectations for the UK economy over the coming year. There was also a six-point…
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The Bank of England and Prudential Regulation Authority (PRA) have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition. The UK’s resolution regime is designed to ensure that banks can fail safely, without disruption…
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The Chancellor and Economic Secretary brought together the six largest banks and building societies, alongside UK Finance, to take stock of the impact of the conflict in Iran on households and small businesses. The Chancellor secured a commitment from lenders present to proactively contact 1.6 million customers whose fixed-rate deals end between now and the…
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The Payment Systems Regulator (PSR) has set out its work programme for 2026/27 highlighting its focus on tackling high card fees, maintaining world-leading protections against Authorised Push Payment (APP) fraud and supporting innovation and competition across UK payments. This year’s work plan sets out how the regulator will build on recent reforms, take forward further…
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Borrowers face £4.6K payment shock as fixes with the average mortgage rate hitting 5.50% for the first time since August 2024 according to new market analysis by Moneyfacts. The data showed that the rate rose from 4.89% on Monday, 2nd March 2026, to 5.50% on Wednesday, 25 March 2026. As a result, the typical annual cost…
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Consumer confidence in the UK has reached an all-time low, according to analysis by the British Retail Consortium (BRC) survey conducted by Opinium. The survey, taken from March 10 to March 13, revealed a drop in consumer expectations for the economy to -53, down from -30 the previous month. Personal finance expectations also fell to…
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More than 12 million adults with credit products aren’t confident they understand APR, one of the most important measures of borrowing cost, according to new research from Creditspring. The data also suggests that millions of UK adults are using loans, credit cards, and Buy Now, Pay Later (BNPL) products without fully understanding key terms or…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in January 2026 compared with the same month in 2025. In the twelve months to January 2026, new business in this market was 6% higher than in 2024. The credit card and personal loans sectors together…
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