Credit, Collections & Insolvency News
Ulster Bank has been fined 3.3 million (£3 million) by Ireland’s financial watchdog over breaches of money laundering and terrorist financing rules. The Central Bank said its inquiries uncovered significant failings in Ulster Bank’s procedures practices over six years from July 2010. It said its inquiries uncovered significant failings in Ulster Bank’s procedures but no money…
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New figures from the Insolvency Service Ireland show that almost 900 people applied to put a formal insolvency arrangement in place with their lenders. The figures were for the three months to the end of September. This was up 102% on the same three months last year. But the number of heavily-indebted people who secured a…
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Cabot Credit Management (CCM)) has announced its financial results for the past 6 months (period ending June 2016. The statement said that Debt purchase collections increased 24% from £141.6million to £175.9 million compared with the same period in 2015. 120-month Estimated Remaining Collections increased to £2.07 billion from £1.92 billion for the same period in 2015 and…
Read moreIrish Social Protection Minister Leo Varadkar has announced a new scheme to allow credit unions provide small affordable loans. A pilot scheme in 30 credit unions saw 1,300 people accessing the loans, the average amount of which was under €500. A further 50 credit unions have already expressed interest in joining the scheme Up to 400,000 people are estimated…
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