News

Wonga name new Chief Executive

http://www.cityam.com/245332/payday-lender-wonga-name-new-chief-executive

US Regulator fines Santander $10million to settle vendor’s overdraft practices

http://www.cityam.com/245522/santander-bank-fined-10m-us-settle-vendors-overdraft

Partner added to CVR Global team

Elias Paourou has been promoted from Director to Partner at CVR Global.

New Chief Executive appointment at Monmouthshire Building Society

James Bawa to be appointed as Chief Executive of Monmouthshire Building Society joining fromTeachers Building Society. Current Chief Executive Andrew Lewis will retire later in the year.  

National portal for landlords to be created by Water firms

A new national register – Landlord TAP – places all let properties in England and Wales in one place. Landlords will provide information about tenants responsible for paying water bills.

Borrowing risks to households following Brexit

The Bank of England Financial Policy Committee report published its Financial Stability report, which identified “the high level of UK household indebtedness.”   

Councils too quick to send in bailiffs, says Citizens Advice

The Insolvency Service plans fee rises for creditors

Fee increases set by the Insolvency Service for corporate and personal insolvencies.

Civil Servants Credit Union to launch

The Department for Work and Pensions (DWP) has launched a Credit Union for civil servants. The DWP has around 85,000 employees. The DWP has set up the scheme with 3 Credit Unions – Commsave, Hull & East Yorkshire and Voyager Alliance.

Freedom Finance new appointments

Freedom Finance appoints Michael Davidson and Neil Farrar-Smith to their management team.  Davidson joins as Business Development Director. Farrar-Smith has been appointed as Director of Business Finance. Earlier this year Brian Brodie joined Freedom Finance as the Group’s Chief Executive.

Identity Fraud rises 52% in 2015

Cifas reveals that criminals target fraud victims aged under 30. The figure is up by 52% in 2015. The fraud figure for 2015 showed that 23,959 people aged 30 and under were victims of identity fraud. This is up from 15,766 in 2014, and is more than double the 11,000 victims in 2010.  

Atom Bank and Phoebus Software agree deal

Atom Bank agrees 5-year deal Phoebus Software. Phoebus will service across Atom’s secured business lending and accounts propositions for residential portfolios.

One in ten homeowners aged over 55 still have interest-only mortgages

Research from over-60s property experts Homewise suggests that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages therefore facing the prospect of clearing their debt when the deal runs out.