Credit, Collections & Insolvency News
MasterCard Incorporated has announced that is going to acquire VocaLink Holdings Limited for about £700 million (approximately US$920 million).
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Freedom Finance has hired Jeff Poole as their new Managing Director of Consumer Finance. Zoe Cuthbertson has also joined the team as Freedom’s new Head of Marketing.
Read moreA report by charity Stepchange has found that bailiffs, government departments and bailiffs are among the most unfair when dealing with people in problem debt. The report titled Creditor and debt collector conduct: What’s making debt problems worse? also found that some creditors are failing to take vulnerabilities such as depression and other ongoing mental health conditions into…
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TSB’s new brand for the loan portfolio is Whistletree. The brand name has been given to Northern Rock’s former loans and mortgages portfolio which TSB bought from Cerberus Capital Management last year. The loans were previously managed by UK Asset Resolution (UKAR).
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The Financial Conduct Authority (FCA) published a Decision Notice issued to Andrew Barry Hart, Director of Wage Payment and Payday Loans Limited (WPPL). The FCA has decided to prohibit Mr Hart from performing any role in regulated financial services and has decided to cancel WPPL’s interim permission. WPPL is a consumer credit firm that provides…
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The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) approved the new licence. The bank plans to launch in January 2017. The bank will offer a one account concept joining up consumer finances by linking up bank accounts, loans and credit cards in one place.
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Freedom Finance have acquired Sensible Home Finance
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http://www.cityam.com/245577/co-operative-bank-has-hired-new-chief-financial-officer
Read moreBank of England monetary policy committee maintains interest rates at 0.5% for an 88th month.
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https://www.theguardian.com/money/2016/jul/15/mps-decry-inadequate-efforts-stop-money-laundering-uk-property
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Lenders are braced for falling demand for mortgage loans following the Brexit vote amid fears over economic uncertainty, the Bank of England said today. Its latest credit conditions review, which includes discussions with major High Street lenders following the referendum, said that banks expect “demand for secured credit” to slide despite little change in the availability of…
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http://www.cityam.com/245332/payday-lender-wonga-name-new-chief-executive
Read morehttp://www.cityam.com/245522/santander-bank-fined-10m-us-settle-vendors-overdraft
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