Credit, Collections & Insolvency News
Paragon Bank has announced the appointment of Colin Sanders as Managing Director (MD) of its new bridging proposition. Sanders joins Paragon with more than three decades of specialist lending experience, having previously led bridging lender Omni Capital as its CEO, and later founding Tuscan Capital and selling the business to Allica Bank. Paragon has also…
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More than 220,000 fraud-risk cases were recorded to the UK National Fraud Database (NFD) in the first six months of 2026, with identity fraud accounting for 59%. The figures, revealed by fraud prevention service Cifas, mark the highest total volume of cases recorded throughout January-June. The latest data shows that stolen personal information is a…
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The equity release market returned to growth during Q2 2026, with lending and customer activity increasing as customer demand returned following a slower start to the year. According to the latest data from the Equity Release Council, total lending increased to £597 million during Q2 2026, up 4% on the previous quarter (£574m). Overall customer numbers also…
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Dudley Building Society has strengthened its leadership team with the appointments of Jayne Roberts as Head of Lending and Richard McDonald as Brand and Communications Manager. Roberts joins from Skipton Building Society, bringing extensive experience across the mortgage and lending sector. In her new role, she will lead Dudley Building Society’s lending function, overseeing the continued development…
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Following an external recruitment process, the Bank of England has appointed Nicholas Segal as Chair of its Enforcement Decision Making Committee (EDMC), and Peter King as Deputy Chair, The EDMC is the Bank’s decision-making body for contested enforcement cases in the statutory regimes the Bank operates in relation to Prudential Regulation, Financial Market Infrastructures, Resolution,…
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Latest Bank of England data has shown that the total assets held by Credit Unions increased by nearly £100,000 to £4.99 billion in 2025, up 2% from the previous year. Membership also continued to grow, increasing by 0.80% to 2.29 million members. Total income increased by 6.03% in 2025 to £444.47 million, following growth of…
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Hodge Bank has announced that it has acquired the business and certain assets of Blue Motor Finance Limited through a pre-pack Administration process. Simon Edel, Alan Hudson and Richard Barker of EY Parthenon were appointed as Joint Administrators of the company, and the sale was completed immediately upon their appointment. The agreement means that the…
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New research from Trustpilot has found that 92% (over nine on ten) of financial services leaders say their organisation has a strategy focused on when and how their brand appears in answers from AI tools like ChatGPT or Google AI Mode (often called an ‘AI visibility strategy’). But nearly half (47%) are not collecting feedback…
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Businesses across the UK will benefit from greater transparency over the card fees they pay, after the Payment Systems Regulator (PSR) confirmed new requirements on Mastercard and Visa. The measures follow the PSR’s market review of card scheme and processing fees. Card scheme and processing fees are paid by businesses to accept card payments –…
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Blue Motor Finance Limited (BMFL) has been placed into administration. Simon Edel, Richard Barker and Alan Michael Hudson of Ernst & Young LLP have been appointed as joint administrators. BMFL operated as a motor finance lender; the firm had been running at a loss for several years and faced significant compensation liabilities it could not…
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The Information Commissioner’s Office (ICO) has executed search warrants across the UK as it cracks down on suspected nuisance marketing linked to car finance mis-selling claims as part of the joint regulatory taskforce. More than 12 million complaints about nuisance marketing text messages have been submitted by the public since September 2025, with up to…
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The Bank of England maintained interest rates at 3.75% in a 6-to-3 vote. The Committee said that it is appropriate to maintain the Bank Rate at this meeting. The Committee stands ready to act as necessary to ensure that CPI inflation remains on track to meet the 2% target in the medium term. Commenting on the…
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New research from Compare the Market suggests that fear of being turned down for credit is preventing millions of people from applying for financial products altogether, as new Buy Now Pay Later (BNPL) affordability checks are introduced across the UK. From 15th July 2026, BNPL providers will be required to carry out affordability and creditworthiness…
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