Credit, Collections & Insolvency News
Katharine Braddick CB has appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA), succeeding Sam Woods, whose term ends in June 2026 and has served as Deputy Governor for Prudential Regulation since 2016. Braddick brings a rare mix of private sector banking experience…
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Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the Financial Conduct Authority (FCA). The FCA is consulting on designating certain credit reference agencies (CRAs). If a lender shares credit information with one designated consumer CRA, it would be required to share it with them all. The changes…
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February is on track to record the highest number of new home listings in a decade, according to Zoopla’s latest House Price Index. Combined with falling mortgage rates, the market is currently looking particularly good for first time buyers, with 40% of homes for sale now cheaper to buy with a mortgage than rent. Reflecting…
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The latest EY ITEM Club data has forecasted that consumer credit lending growth will remain largely flat at 5.8% in 2026 (from 6.1% in 2025), 5.7% in 2027, and 5.3% in 2028. Even though consumer credit remains expensive, demand is expected to remain steady over the coming years. This is largely due to a combination…
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The Financial Conduct Authority (FCA) reported a 174% rise in actions against influencers last year, including the first arrests for promoting high-risk investments. The FCA says that financial advice on social media has become increasingly risky, with ‘finfluencers’ promoting dubious financial products, with seven reality TV stars pleading guilty to illegal promotions, receiving fines between…
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The Payment Systems Regulator (PSR) has fined Bank of Ireland UK for failing to implement Confirmation of Payee (CoP) by the required deadline. The Payment Systems Regulator (PSR) has fined Bank of Ireland UK £3.7m for failing to implement a crucial fraud protection service on time. The bank missed the deadline by 14 months, leaving…
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Creditstar Group, a European data-driven fintech, has announced that its UK subsidiary has received approval from the Financial Conduct Authority (FCA). to operate as a mainstream consumer credit lender in the United Kingdom. Following FCA approval, Creditstar UK is offering fully digital personal loans of up to £10,000 with repayment terms of up to 60…
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The Finance & Leasing Association (FLA) has announced the appointment of Jeremy Barton as its new General Counsel, The FLA says thatthe new role reflects the growing complexity of the regulatory environment and the FLA’s commitment to supporting members with authoritative legal insight, robust governance, and proactive engagement with policymakers and regulators. Barton is a…
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Evlo has announced a new partnership with rent-reporting platform, CreditLadder. The partnership is the next milestone in Evlo’s industry-focused’ Financial Freedom for Everyone’ campaign, which is calling for reforms that make the credit system fairer and more inclusive for renters. Through this collaboration, Evlo will be able to connect its renter customers, especially those with…
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Darlington Building Society has announced it has appointed Michael Conville as Chief Customer Officer. Conville joins Darlington, which is celebrating its 170th anniversary this year, from Newcastle Building Society, where he held senior roles as both Head of Mortgage Operations and interim Chief Customer Officer. Darlington Building Society Chief Executive, Andrew Craddock, said “Michael brings a…
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72% of consumers abandon their baskets after being declined for credit at checkout, despite over half saying they would look for an alternative finance option. The results, from independent research commissioned by Payl8r, with the figures suggesting that single-lender checkout structures may be contributing to avoidable conversion loss. Payl8r says that the research reveals ‘false…
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New research from FIS suggests that digital currencies, such as cryptocurrencies and stablecoins, are firmly on the radar of younger consumers, but with limited understanding and concerns around transparency, continue to hold back wider adoption across the UK. While the FCA recently confirmed that stablecoin payments are a 2026 priority, the data shows a clear…
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Today (Tuesday 17th February) marks twenty years since Chip & PIN fully replaced signatures for in-store card purchases. Since then, the way we pay and the way criminals attempt to commit fraud, has significantly changed. Alongside more than 25 million additional cards now in circulation compared with two decades ago, two major shifts have transformed…
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