Credit, Collections & Insolvency News
New research from Provident Personal Credit has revealed that almost half (47%) of the UK consider themselves to be ‘just about managing’ (JAMS) financially. The survey of 2,000 adults revealed that 14% had to give up necessities like food and daily travel costs to pay for unexpected expenses, with a further 11% of respondents saying they had…
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Steve Hughes has been named as the new Chief Executive Officer (CEO) of Principality Building Society. Hughes is currently the Finance and Transformation Director is set to move into the role in early March following Graeme Yorston’s decision to step down as CEO. Laurie Adams, chairman of Principality said “After a rigorous selection process, I am…
Read moreMillions of people in the UK who rent their homes from private landlords are putting themselves and their families at risk of eviction and financial hardship due to lack of a financial back-up plan, according to research from Scottish Widows. Despite almost a third (30%) of private renters admitting that they’d not be financially secure…
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Wonga will confirm that it has decided to offload BillPay, one of its most valuable units, to Klarna, a Swedish provider of e-commerce solutions according to Sky News. Klarna operates in Austria, Germany, the Netherlands and Switzerland. The deal will take place this week and will be worth about £60 million. Talks between Wonga and…
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The Competition and Markets Authority’s (CMA) shake-up of the banking industry will offer overdraft users the opportunity to save an average of £180 a year, while other current account holders can save an average of £92. In its final report on the retail banking market published last year, the CMA announced a package of reforms…
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Callcredit Information Group has announced a partnership with a new to market fintech platform, Smartr365, to speed up mortgage applications and provide real-time affordability assessments. The partnership will include providing Smartr365 users with access to MOGObankconnect, an app that enables consumers to securely share online banking transaction data using their personal device, to confirm income…
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The financial stresses and pressures of self-employment are taking their toll on family life, according to the latest report from Scottish Widows’ think tank, the Centre for the Modern Family. Findings of ‘Self-employment and the Family’ show that one in five relatives of a self-employed worker (20%) report increased stress levels in their household due…
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Brightstar Financial has announced that Bradley Moore will become its new managing director. Moore co-founded the specialist distributor with CEO Rob Jupp and director Kit Thompson in 2011 – will also continue in his current role of running Brightstar’s second charge mortgage division and Bright Mortgage Services. Rob Jupp said “Bradley has been with the…
Read moreLatest research from Equifax has discovered that 38% of people, in the UK, believe they always get the best deals through a comparison website. The online survey, conducted by YouGov also found that 70% of people use a comparison website when choosing a financial product. The Competition and Markets Authority (CMA) has recently launched a…
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Chris Pond has been appointed the new Chair of the The Lending Standards Board (LSB). Pond will take over as Chair of the LSB at the end of March. He succeeds Lord Hunt of Wirral who has completed 6 years as LSB Chairman, recently overseeing the move from the Lending Code to the outcome-focused Standards…
Read moreNava Finance Limited today announced that the Financial Conduct Authority has confirmed that as of 27 January, 2017 Nava Finance Limited is authorised and regulated by the FCA, enabling Nava to begin offering personal loans to UK consumers. The company is now focused on working towards an initial launch date, which will be announced when…
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New research from Sainsbury’s Bank Loans has revealed that more than 180,000 people across the UK could take out a personal loans for debt consolidation in the first three months of 2017, worth more than £2 billion. This figure equals an estimated 31% of all personal loans taken out in the first three months of the new year.…
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The Financial Conduct Authority (FCA) has today fined Deutsche Bank AG £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services…
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