Credit, Collections & Insolvency News
New research from leading recruitment consultancy Robert Half Financial Services reveals over half (54%) of traditional financial services firms, such as banks and investment houses, are increasing their spend on disruptive and innovative technologies in the next 12 months. The impact of the dramatic rise of digital ‘challenger’ business models throughout the financial services sector has…
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Citizen Advice research has discovered that some payday lenders are still failing to carry out basic checks to make sure borrowers can afford to pay back their loans. Over a quarter of payday loan borrowers (27%) who responded to a survey by Citizens Advice said they were not, or could not remember being asked any questions…
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The Council of Mortgage Lenders (CML) has announced that gross lending as static in July at £21.4 billion. The figure is down 0.4 per cent from June’s £21.5 billion and down 1 per cent year-on-year from £21.6 billion. CML Chief Economist Bob Pannell says: “Indicators are likely to provide truer readings of market conditions the further…
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Motormile Finance (MMF) has achieved full authorisation by the Financial Conduct Authority (FCA). Denise Crossley Chief Executive Officer of Motormile Finance UK, said: “I am very proud to be able to announce that we have been authorised by the FCA. We have worked extremely hard to get to this point and all credit has to…
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The UK Cards Association has released figures showing that spending on contactless cards has grown in the first half of 2016,and has already outstripped contactless spending for the whole of 2015. £9.27 billion was spent using contactless methods between January and June of this year, this is more than the total 2015 contactless spend of…
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A report by TUC and Unison suggests that about 1.6 million UK households are living in extreme debt. The report says official figures underestimate the intense burden of repayment on many families and individuals. The Britain in the Red report says households are finding it harder than ever to cope as wages have fallen. Total unsecured…
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Nick Rossister has been appointed Deputy Chief Executive at the Registry Trust.
Read morehttps://www.theguardian.com/money/2016/aug/23/aa-mortgages-fixed-rate-breakdown-cover
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http://news.sky.com/story/wonga-shake-up-goes-on-as-jordan-takes-top-uk-job-10548010
Read moreMortgages4Life has received full regulatory approval from the Financial Conduct Authority (FCA) to launch a range of products aimed at borrowers aged 55 and over, with the aim of improving choice in the later-life market. Chief Executive Simon Little said: “We are assembling a strong and credible team who understand the broker market and what their customers…
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The Financial Conduct Authority (FCA) has appointed Michael Welch as Director of Retail and Regulatory Investigations.
Read moreClose Brothers Motor Finance has expanded its Motorcycle Division with the appointments of Lee Collins and Paul Crossley as Motorcycle Account Specialists
Read moreLeadAffinity.com has launched a new strategic partnership with Cashfloat.co.uk, a trading style of Western Circle Ltd (WCL). The partnership agreement has a mutual aim of ensuring its customers have access to Cashfloat.co.uk as a lender and any customers that are not eligible for a Cashfloat.co.uk loan have access to the lending panel of LeadAffinity.com Lead Affinity, a trading…
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