Credit, Collections & Insolvency News
Administrators have been appointed to lending platform Amplifi Capital. Amplifi, via the Reevo Money brand, offered unsecured personal loans. Amplifi also supported Credit Unions through the provision of customer loan origination and servicing activities. This was performed through the My Community Finance brand, which operated as an authorised credit broker. Customers were also introduced to…
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UK Finance has announced the start of an expanded pilot programme, delivered in partnership with Shelter, the housing and homelessness charity, to improve access to banking services for people who may face barriers to opening a bank account. Helping people who don’t have the standard ID or proof of address required to open an account…
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The Financial Conduct Authority (FCA) has outlined plans to widen access to mortgages for groups including first-time buyers, older borrowers and self-employed people. Proposals include expanding access to interest-only and part interest-only loans, easing later-life borrowing rules and encouraging lenders to assess applicants based on their current financial circumstances rather than relying heavily on past…
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Ten years after the Brexit referendum, UK Finance, in partnership with Freshfields, has launched a report outlining its vision for the UK and EU relationship in financial services. Unlocking Growth Through a Stronger UK-EU Financial Services Partnership calls on the EU and the UK to place financial services on the agenda for the upcoming Leaders’…
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As part of the joint regulatory taskforce, the Financial Conduct Authority (FCA) has warned customers to be wary of misleading car finance ‘money tips’ adverts issued by claims management companies (CMCs) and law firms on social media. The taskforce has identified a growing number of adverts that appear to offer independent advice from an individual but…
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The Financial Conduct Authority (FCA) has opened an enforcement investigation into Consultation Claims Limited (CCL) following concerns about its conduct in the period April 2025 to December 2025 in relation to motor finance claims. The FCA is investigating concerns that consumers may have been signed up between April 2025 and December 2025 without their consent,…
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Boss of firm which sparked almost 38,000 complaints over high-interest loan spam texts banned as company director until 2032. Leanne Richardson was the director of ESL Consultancy Services Ltd, which generated almost 38,000 spam text complaints. ESL Consultancy Services Ltd was fined £200,000 by the Information Commissioner’s Office (ICO) but went into liquidation without paying…
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The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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The Financial Conduct Authority (FCA) is preparing for potential legal challenges regarding the motor finance scheme. It has received four legal challenges from lenders, including Volkswagen Financial Services and Mercedes-Benz Financial Services. The FCA says that its priorities remain to secure fair compensation for consumers as quickly as possible and ensure a healthy motor finance…
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UK Finance has published Plan for Growth: From Strategy to Delivery, a new report outlining a practical roadmap for how the financial services sector can help deliver the government’s economic growth ambitions. The Government’s strategies to grow the economy – spanning industrial renewal, infrastructure, housing, SMEs, trade and financial inclusion – all depend on a…
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The Financial Conduct Authority (FCA) has announced that it will launch an investigation into claims management practices. The review follows concerns that consumers are being failed by some claims management companies (CMCs) and law firms. The review will look at the root causes of poor practices across the market, like aggressive marketing, misleading advertising and…
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The Bank of England has maintained the base interest rate at 3.75% but warned that rates could increase this year as officials look to curb inflation following a ‘significant energy price shock’ from the conflict in the Middle East. The Bank’s Monetary Policy Committee (MPC) voted eight to one to keep rates unchanged, with Chief…
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