Credit, Collections & Insolvency News
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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James Bawa to be appointed as Chief Executive of Monmouthshire Building Society joining fromTeachers Building Society. Current Chief Executive Andrew Lewis will retire later in the year.
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A new national register – Landlord TAP – places all let properties in England and Wales in one place. Landlords will provide information about tenants responsible for paying water bills.
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The Bank of England Financial Policy Committee report published its Financial Stability report, which identified “the high level of UK household indebtedness.”
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Freedom Finance appoints Michael Davidson and Neil Farrar-Smith to their management team. Davidson joins as Business Development Director. Farrar-Smith has been appointed as Director of Business Finance. Earlier this year Brian Brodie joined Freedom Finance as the Group’s Chief Executive.
Read moreCifas reveals that criminals target fraud victims aged under 30. The figure is up by 52% in 2015. The fraud figure for 2015 showed that 23,959 people aged 30 and under were victims of identity fraud. This is up from 15,766 in 2014, and is more than double the 11,000 victims in 2010.
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