Credit, Collections & Insolvency News
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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New research from the Building Societies Association (BSA) shows that many aspiring first-time buyers could be closer to owning their own home than they think, but too many are ruling themselves out before exploring what is possible. The findings show that almost half (47%) of people who want to buy their own home have never…
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The Financial Conduct Authority (FCA) has outlined new measures for Buy Now, Pay Later (BNPL) lending, which will aim to simplify information for borrowers whilst ensuring income checks and support for those in financial difficulty. Lenders must now be authorised and comply with the FCA’s Consumer Duty, ensuring clearer information on agreements and affordability checks.…
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Consumer confidence has now been negative for ten consecutive years, with the GfK index falling sharply again in January. Analysts describe a mood of resignation rather than panic, as inflation continues to outpace wage growth and households remain cautious. The prolonged pessimism is dampening entrepreneurial risk-taking and discretionary spending. The Consumer Confidence Index was up…
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New research by Hargreaves Lansdown has found that couples who plan together have an average of £328 left at the end of the month , £28 more than those where the one person plans alone and £101 more than those who leave it to their partner. The analysis shows that couples planning together have £3,145…
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Complaints to the Financial Ombudsman Service (FOS) fell to the lowest level in two years in Quarter 4 2025. Between October and December, the FOS received 47,300 complaints compared to 68,400 in the closing quarter of 2024. The decline comes after an overhaul of rules from regulators and the Treasury, which means professional representatives now…
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