Credit, Collections & Insolvency News
Tandem Bank has announced that it has appointed David Shrimpton-Davis as its new Managing Director for its Motor Finance division. Shrimpton-Davis brings with him deep rooted experience in leading and growing a motor finance business, having formerly led Moneybar, the motor finance arm of Vanquis Banking Group. Shrimpton-Davis also brings a wealth of operational and…
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New data from Lloyds has shown that thousands of football fans have been scammed, with football fans are being urged to guard to against fraud when buying match tickets for the upcoming Premier League season . The data reveals that an estimated £2.5 million has been lost to football ticket fraud over the past two…
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Latest quarterly figures have shown that complaints to the Financial Ombudsman Service (FOS) fell to their lowest in more than a year in the April to June. Figures show that the FOS received 68,000 new cases in the period, with this down from 74,600 complaints seen a year ago. Complaints about motor finance were the…
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The Financial Conduct Authority (FCA) has announced that stricter regulations for electronic payment firms will come into force in May 2026. The new rules say companies must separate customer funds from their own, ensuring refunds in case of firm failures. The City watchdog says firms will face annual audits by qualified auditors, monthly reporting, and daily…
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The Bank of England’s Monetary Policy Committee (MPC) has voted to reduce the base rate from 4.25% to 4%. The MPC voted 5 to 4 in favour of the move, with the dissenting members preferring to leave rates unchanged at 4.25%. Commenting on the change, Ryan McGrath, Director of Second Charge Mortgages at Pepper Money, said “Interest rates…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in June 2025 by 11% compared with the same month in 2024. In the first half of 2025, new business in this market was 5% higher than in the same period in 2024. 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 grew in June 2025 by 5% compared with the same month in 2024. The corresponding value of new business grew by 9% over the same period. In the first half of 2025 (H1), new business volumes were…
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Nearly two-thirds of renters surveyed by Barclays expect rent increases this year, impacting their ability to save for a deposit. Rent and mortgage spending increased 5.2 per cent year-on-year in July, and spending on utilities was also up by 2.7 per cent, according to Barclays Property Insights data. As costs rise, renters are finding their…
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New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £80.3 billion of new lending in the first half of 2025, 4% higher than in the same period 2024. Of this total £20.2 billion was provided to businesses for investment…
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A majority of recent first-time buyers have relied heavily on family support and personal sacrifice to get onto the housing ladder, according to research commissioned by TSB. The survey found that four fifths (80%) had moved back in with parents to save towards a property, while 96% received financial help with their deposit – mostly…
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Younger generations are challenging outdated stereotypes that they are financially irresponsible by showing greater dedication to saving and investing than their older counterparts, new research from Scottish Friendly has revealed. The research shows that while a third (31%) of adults are saving less than they were a year ago, Millennials and Gen Z are nearly twice…
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Housing association Thirteen Group has become the first social landlord across England and Wales to introduce Open Banking payments as part of a partnership with PayPoint. The partnership between PayPoint and Thirteen was first established in June 2024. At the core of the partnership is ensuring customers have more control, more choice and a simpler way…
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The Finance and Leasing Association (FLA) has criticised the Financial Conduct Authority’s (FCA) proposed redress scheme for car finance mis-selling, labelling it ‘completely impractical.’ Stephen Hadrill, Director General of the FLA has expressed concern about the scheme covering loans dating back to 2007, stating that both firms and customers may lack necessary documentation. The FCA…
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