Credit, Collections & Insolvency News
Higher earners are more fearful of moving or losing jobs than low-earners, due to worries about getting less pay and flexibility when they find new jobs, while low-earners often see little benefit from upending the status quo, according to new research by the Resolution Foundation. Listen Up – the 18th report for The Economy 2030…
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Grieving families in Britain are being put under additional financial strain due to not discussing end-of-life wishes with loved ones, SunLife’s annual Cost of Dying Report has revealed. The research revealed that families unsure of what the deceased would have wanted often overspend compared to those who had shared their wishes in advance. Almost half (48%) of…
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Despite signs of recovery in 2021, consumers’ wealth has seen a sharp decline in the first quarter of 2022 as the cost-of-living crisis takes its toll, according to the latest data from LifeSearch. The Index – compiled by modelling a range of data sources covering health, wealth, and happiness and monitoring changes over time – shows that…
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The Financial Conduct Authority (FCA) has granted AperiData, AISP (Account Information Service Provider), CIS (Credit Information Service), and CRA (Credit Reference Agency) permissions. With the FCA’s granting of permissions, AperiData says that it is uniquely positioned to begin putting their services to greater and more innovative uses. The company says that it operates at the…
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Following confirmation from the Environment Secretary, Iain Coucher has been appointed as the new Chair of Ofwat, the economic regulator for the water sector in England and Wales. Coucher will take up the post on 1st July 2022. During the pre-appointment hearing held by Parliament’s Environment, Food and Rural Affairs Committee (EFRA) Coucher set out…
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Laura Barley has been appointed as Chief Operating Officer (COO) for TransUnion in the UK. TransUnion pledged in 2019 that it aimed to achieve gender parity in senior leadership by 2030 in all the regions it operates in. The UK leadership team, which is now 50% female, is a testament to that commitment being put…
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A Financial Services and Markets Bill aimed at cutting red tape was among the flagship measures announced in the Queen’s Speech. The new bill revokes retained EU law on financial services and updates the objectives of the Financial Conduct Authority and the Prudential Regulation Authority to bring about a greater focus on growth and international…
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New research by Bibby Financial Services has found that 2.1million SMEs are ‘just about breaking even’ and face myriad of challenges that threaten to impact the UK’s economic recovery. The report says that SMEs are ambitious for the opportunity to regain lost ground post-pandemic, but risk being held back by a myriad of mounting pressures…
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New figures from the Registry Trust have revealed a significant rise in business County Court Judgments (CCJs)in UK & Ireland, for Quarter 1 (Q1). The figures revealed that there were 230,239 new monetary judgements processed overall in Q1 2022, which is a 10% decrease compared to the Q1 2021 total of 256,404. However, there was…
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The Payment Systems Regulator (PSR) has welcomed the PSR Panel’s newly published Digital Payments Initiative report. The report, commissioned by the PSR, highlights the challenges to the take-up of digital payments and what the potential solutions and regulatory actions could look like. The Initiative concluded there are four high-level areas of focus to address to…
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The average UK household will be short of a £100 a month by 2024, as the cost of living crisis means expenses will outpace incomes. The figures come from a Yorkshire Building Society’s Inflation Nation report and reveal that weekly household spending is set to rise to £705 in just two years’ time. However, the…
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Responding to this year’s Queen’s Speech the Federation of Small Businesses (FSB) has urged the need for late payment reform. Federation of Small Businesses (FSB) National Chair Martin McTague said “A worsening late payment crisis is currently threatening the futures of more than 400,000 small firms. The Audit Reform Bill creates space to take forward…
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The Government has announced it will launch a new Renters Reform Bill with the aim of delivering the biggest change of improving the lives of millions of renters by driving up standards in the private and socially rented sector, delivering on the government’s mission to level up the country. The change will impact 4.4 million…
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