Credit, Collections & Insolvency News
Yorkshire Building Society (YBS) has announced that it has appointed Alasdair Lenman as Interim Chief Executive Officer (CEO) and Robert Purdy as Interim Chief Finance Officer. Stephen White, who has been acting as Interim Chief Executive Officer, will leave YBS to take on a new role at Santander. The Society says both appointments are subject…
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Tandem Bank has announced the appointment of Paul Pester as Non-Executive Director and Chair-Designate, subject to regulatory approval. Tandem’s current Chair, Jeffrey Pritchard, informed the Board earlier in the year that he planned to retire at the end of June having led Tandem through a period of significant transformation since joining the bank in 2016. …
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More than 2 million households face increased mortgage payments after the latest Bank of England interest rate rise. The Monetary Policy Committee (MPC) voted by a majority of 6-3 to increase the bank rate by 0.25 percentage points, to 1.25%. The members in the minority voted to increase the bank rate by 0.5 percentage points,…
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The Financial Conduct Authority (FCA) has published a list of funeral plan providers it intends to authorise when the pre-paid funeral plans industry comes under its regulation from 29th July. 24 firms are on the list, including the largest funeral plan providers. Together these firms hold approximately 87% of existing customer plans. The FCA is…
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Directors of distressed building firm have been disqualified from running businesses by the Insolvency Service after abusing government support they were not entitled to. David Garry Harrison and Paul Hudson both received 11-year bans after they did not dispute they caused their company to apply for £100,000 worth of bounce back loans it was not…
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Vehicle transportation and credit management firm, Anglia UK, is expanding its operations with the acquisition of an independent haulage provider. Chris Huxtable Vehicle Collection & Delivery will become part of the Anglia group of companies. The move further underlines Anglia’s presence in the vehicle transportation and logistics market where it offers a range of services…
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Over half (58%) of people were most concerned about energy bills. This compared to 12% who were most concerned about transport and 8% who were most concerned about food and other household essentials according to new survey by BEIS The survey found that around one in ten (11%) were equally worried about all of them…
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Irish start-up Webio, a specialist in conversational AI in the credit, collections and payments industry, has announced a series A funding round led by Finch Capital. The investment will mean that Webio is primed to scale-up following the digital shift during the pandemic and the uncertain economic climate to make difficult conversations about payments easy through…
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The Government has announced a major reform of the Consumer Credit Act, with this marking an effort to modernise the framework for credit firms. Ministers are looking to give more power to the Financial Conduct Authority (FCA) as part of the changes, which the Government said would enable the regulator to quickly respond to developments…
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Nearly half (43%) of all large financial institutions have already adopted Open Banking according to a new report from API-driven identity management company Curity. The research shows that nearly half of all large institutions in the finance industry have already adopted Open Banking, with almost three-quarters (70%) planning to adopt it in the next 18…
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The value of government support for living costs for university students from the poorest families will fall to its lowest level in seven years in the coming academic year, as maintenance loan entitlements will fail to keep up with inflation. As a result, even students entitled to maximum maintenance loans will have to make do…
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As the Monetary Policy Committee (MPC) meets to decide whether to impose a further rise in interest rates, the majority of Britons are already cutting back on their spending figures from the Building Societies Association (BSA) With inflation at a 40-year high, the Bank of England’s efforts to cool it down by raising interest rates three…
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The Financial Conduct Authority (FCA) has written to more than 3,500 lenders to remind them of the standards they should meet as consumers across the country are affected by the rising cost of living. With household bills expected to continue to rise into the autumn, it is important that firms act now to make sure…
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