Credit, Collections & Insolvency News
Coface has shared its vision of the major trends in the world economy in 2019 with businesses at its annual conference. Coface says that an increasing number of pitfalls, such as escalating political risk, the high volatility of commodity prices, and supply constraints, began to slow world growth in late 2018 and cast a shadow…
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A coalition of charities has urged the Government to take urgent steps to protect people and places in poverty from the financial consequences of Brexit, including no-deal. The Joseph Rowntree Foundation (JRF), Shelter, Trussell Trust, Child Poverty Action Group, Action for Children, National Children’s Bureau, Poverty Alliance, Turn2us, Barnardos and ATD Fourth World have sent…
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The Financial Stability Board (FSB) published a report today on FinTech and market structure in financial services. The publication is part of the FSB’s ongoing work to monitor the global FinTech market developments and their potential implications for financial stability. The FSB defines FinTech as technology-enabled innovation in financial services that could result in new business…
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Lenders could find it much harder to enforce cross border debts in the event of a no deal Brexit, RSM has warned. Currently, European regulations facilitate the collection of cross border debts within the EU, notably through the use of European Enforcement Orders. These allow a judgment in one member state to be enforced in…
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Phillips & Cohen Associates, the international deceased account management specialist, servicing creditors in the US, Canada, UK, Ireland, Australia, Spain and New Zealand has reaffirmed its commitment to the importance of data and information analysis with the appointment of Dani Shi as Senior Vice President of Global Data Systems & Analytics. In this newly created…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew in December by 7% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. The plant and machinery finance and commercial vehicle finance sectors reported new business…
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The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year. For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell…
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The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
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The Financial Stability Board (FSB) has published the Global Monitoring Report on Non-Bank Financial Intermediation 2018. The report presents the results of the FSB’s eighth annual monitoring exercise that assesses global trends and risks from non-bank financial intermediation. It covers data up to end-2017 from 29 jurisdictions, which together represent over 80% of global GDP. The…
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The Irish Central Bank has published the penultimate update on the Tracker Mortgage Examination, showing that, at end-2018, lenders had paid out €647 million to customers affected by their failings. This is an increase of €67 million since end-August. The update also showed that an additional 1,400 affected customers have been included by lenders for…
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The Financial Conduct Authority (FCA) has today set out how it would use the temporary transitional power in the event the UK leaves the EU without a withdrawal agreement. The Treasury has put forward draft legislation that would make transitional provisions if the UK leaves the EU without a withdrawal agreement. This is intended to minimise the disruption for…
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Graydon, a provider of business data, insights, analytics and data-solutions has announced that the business is to launch in Ireland. Graydon has appointed Jonathan Cushley to spearhead its strategic growth in Ireland, where he will be focused primarily on Graydon’s innovative new onboarding platform, an AI-based, turnkey solution that simplifies credit, fraud and compliance processes…
Read moreOver half (55%) of corporate business teams have increased the size of their compliance teams in response to the mounting regulatory pressures that have emerged over the last five years, according to a new study commissioned by Intertrust, a global service providing expert administrative services to clients operating and investing in the international business environment.…
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