Credit, Collections & Insolvency News
Leonard Curtis Legal (LCL), a division of Leonard Curtis Group, has expanded its restructuring and insolvency expertise in London with the appointment of solicitor Layla Taylor. Taylor brings significant experience to the growing London team with a view to supporting the expansion of services. She joins LCL at an exciting time of business growth, with…
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The Government should immediately update its package of support to help households with soaring energy bills before the cost-of-living crisis grips even harder following October’s energy price cap increase, according to a new report by the Business, Energy and Industrial Strategy Committee (BEIS). The report comes as people are feeling the squeeze of 40-year high…
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Hampshire Trust Bank (HTB) has announced the appointment of Malone Roberts as Lending Manager for the North West within its Specialist Mortgages Lending division. Roberts joins HTB after spending three years at Shawbrook Bank. He will report to Andrea Glasgow, Head of New Business at HTB. Roberts joined Shawbrook in July 2019 as a Lending…
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The Competition & Markets Authority (CMA) has rebuked the digital bank Monzo for failing to provide thousands of customers who were closing accounts with copies of their transaction histories. The CMA found that Monzo breached the Retail Banking Market Investigation Order between May 2021 and March 2022. The Order sets out that every customer must receive copies…
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The Financial Conduct Authority (FCA) has confirmed its plans to bring in a new Consumer Duty, which it says will fundamentally improve how firms serve consumers and also will set higher and clearer standards of consumer protection across financial services, requiring firms to put their customers’ needs first. The Duty is made up of an…
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Specialist lender Together has announced that it is growing its team across the country, with a series of new senior appointments. Danielle Potter, Pall Thorarinsson and Jamie Grimshaw will join the company as Business Development Directors, bolstering the group’s regional teams and increasing its footprint across the UK. All three will report to Sean Williams,…
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Consumer spending and the number of transactions made by households fell in June, according to Nationwide Building Society’s Spending Report. The latest data is the first real indication of how the cost-of-living crisis is pushing households to cut back on costs while they can. The latest spending data comes as Nationwide prepares to launch support…
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The average household was £175.80 worse off in June this year than they were in the same month in 2021, according to the Centre for Economics and Business Research (Cebr) June’s fall in disposable income marks the eighth consecutive month of decline and leaves the average household with £200 left to spend after taxes and…
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A shortage of workers and surging inflation are pushing more restaurants into insolvency with the number jumping by more than 60% in the past year according to new data from UHY Hacker Young. The data analysis shows that 1,406 restaurants in the UK closed their doors in the 12 months to May, up 64% (856)…
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Almost half (45 per cent) of finance and banking firms are failing to carry out crucial ‘ghost-buster’ checks on new business clients, newly released data from SmartSearch has shown. ‘Ghost’ firms are false entities created as part of a corporate infrastructure to hide the connection of a criminal beneficiary. They are often used by sophisticated…
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1.7 million single parent families, representing 57% of all single parent households with children at home, struggled to pay their bills in recent weeks, reflecting the worsening conditions for millions of families across the UK, according to comparethemarket.com’s Household Financial Confidence Tracker. The research found that four in ten (43%) two parent households with children also found…
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Male victims of financial abuse in Scotland will finally be able to take back some control over their finances without placing themselves at further risk of abuse from partners with the help of a new partnership between the Vulnerability Registration Service (VRS) and Abused Men in Scotland (AMIS), Scotland’s charity helpline for male domestic abuse. Abused…
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Cambridge Building Society has announced that it has appointed Sandhya Kawar as its new Chief Risk Officer and member of the board. Kawar joined Cambridge Building Society in January this year as Lead in the Risk and Compliance department. Kawar also has a BSc from the London School Economics and an MSc from Warwick University,…
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