Credit, Collections & Insolvency News
New figures released today by the Finance & Leasing Association (FLA) show growth of 16% in consumer finance new business in August, compared with the same month last year. Credit card and personal loan new business together grew by 17% compared with August 2015, while retail store and online credit new business increased by 6%…
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The Government has announced that they will be creating a new single public body responsible for delivering advice to consumers on money, debt and pensions. The new service will replace the Money Advice Service (MAS). The government thinks a single advisory body will be more efficient but has yet to decide how the new service will…
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Aphility has introduced a secure, real time, certified digital bank verification capability by integrating DirectID from the online trust company. The IDCo to enable the verification of business and consumer income and expenditure data from UK Banks. This enhancement will enable customers and partners to undertake faster and more accurate affordability assessments and credit decisions delivering…
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South West law firm Clarke Willmott LLP has announced the appointment of a new Marketing Development Manager for its Debt Recovery team in Taunton. Emma Kitchen joins the firm having previously worked in the Energy and Financial Services industries and has a background in marketing communications, strategy and planning. Kitchen, who has extensive knowledge and experience…
Read moreFollowing a decision by the United States Department of the Treasury(link is external) to designate the PacNet Group as a ‘significant transnational criminal organisation’, we understand that the ceasing of PacNet Group firms’ operations has led to some customer payments, including direct debits, not reaching creditors and firms. Firms affected by this should assess their payment…
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Santander has teamed up with Crowdfunder to launch a £200,000 fund to support social enterprises and community projects across the UK in a collaboration called Changemaker Fund.. This is the first time one of the UK’s largest banks has partnering with a crowdfunding platform. Community projects looking to support social change can present their ideas…
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Financial services firms recorded a 2.6% reduction in new complaints between January and June 2016 compared to the previous six months, according to new complaints data published today by the Financial Conduct Authority (FCA). The total number of complaints was 2.05 million. Payment protection insurance (PPI) is still the most complained about product. Complaints about current accounts…
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Equita & Ross & Roberts have both been awarded with the accreditation ISO 10002 for their quality Customer Satisfaction Management Systems and are the first enforcement agents to be granted this accreditation by certification body, QMS international. Neil Smith, Managing Director of Equita & Ross & Roberts, said: “I am delighted to have achieved this…
Read morehttp://www.cityam.com/250926/peer-peer-mortgage-lender-lendinvest-posts-133-per-cent
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TalkTalk has been issued with a record £400,000 fine by the ICO for security failings that allowed a cyber attacker to access customer data “with ease”. The ICO’s in-depth investigation found that an attack on the company last October could have been prevented if TalkTalk had taken basic steps to protect customers’ information. ICO investigators…
Read moreThe government has resumed the sale of a failed bank’s £15.65 billion pound mortgage portfolio after it was delayed in the aftermath of the country’s vote to leave the European Union. UK Asset Resolution, which is selling off the Bradford & Bingley loans, is planning to send out non-disclosure agreements to prospective bidders this week,…
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The ONS released UK business figures which revealed that there were 2.55 million businesses registered in the UK in March 2016 compared with 2.45 million in March 2015, a rise of around 105,000 (4.3%). Tim Vine, Leader, Risk Products at Dun & Bradstreet said “These latest figures from ONS have demonstrated that the number of businesses in…
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Aire, a credit scoring startup has confirmed authorisation with the Financial Conduct Authority (FCA). The company also announced that it raised a further $2 million in funding earlier this year led by White Star Capital alongside Sunstone Capital and Accion Venture Lab. Co-founder and Chief Executive Officer Aneesh Varma said: “It’s a huge step for us and also for…
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