Credit, Collections & Insolvency News
Sigma Connected has announced that it has appointed Errol van Graan as its new Director of Operational Delivery, leading the delivery of its operations in South Africa. Cape Town-born van Graan previously spent 20 years with Vodafone in a variety of senior operational and customer experience roles, including within its Romanian and Australian businesses. Now…
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Liam Coleman has been appointed interim chair of the Financial Ombudsman Service (FOS). Coleman has over 30 years’ extensive financial services, public sector and board experience. He was formerly chief executive officer of The Co-operative Bank, deputy group treasurer and group head of capital management at The Royal Bank of Scotland (RBS) and group director,…
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£6.4 billion per year could be added to the UK economy by improving financial inclusion, according to new economic modelling by WPI Economics, commissioned by Fair4All Finance, the not-for-profit financial inclusion organisation. The study shows that £5.9 billion could be raised annually from increased productivity and employment due to improved financial wellbeing. A further £110…
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IE Hub has announced a new partnership with Citizens Advice Plymouth. This partnership will provide Plymouth residents with an additional access route to support through Citizens Advice Plymouth, facilitated by a streamlined digital referral process. Through the collaboration, Plymouth-based residents looking for support with debts or income maximisation will be offered a direct referral option…
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Confidence among UK consumers weakened slightly this month, amid speculation that the government may announce further tax rises in the autumn Budget, GfK’s consumer confidence index has found. The consumer confidence index which measures how people view their personal finances and broader economic outlook, dropped by one point in July to -19, which is below…
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New Freedom of Information (FOI) data from the Financial Conduct Authority (FCA), analysed by Quilter, has revealed a significant rise in the number of people taking out mortgages with a term of 35 years or more. In 2024, 30,338 mortgages with a term of 35 years or more were sold to people aged over age…
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A survey commissioned by the Building Societies Association (BSA), which represents UK mutual lenders like building societies and credit unions, found that 59% (nearly a third) of renters aged 25 to 44 had expected to be homeowners by now. Of those, 33% believe they will never own a home, while 31% hope to buy within…
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The Supreme Court has announced that it will deliver its long-awaited ruling on the motor finance cases this Friday (1st August), which could kickstart one of the country’s largest mass redress schemes. Commenting on the announcement, Brian Nimmo, Head of Redress at Broadstone said “The Supreme Court ruling could kickstart one of the largest mass…
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In the first six months of a new reimbursement scheme, £66m was returned to victims of authorised push payment (APP) scams, according to the Payment Systems Regulator (PSR) Launched in October last year, the new rules mandate banks to reimburse victims unless they were grossly negligent. Consumers reported around 109,000 claims, with 77,000 in scope for…
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Latest research by the British Retail Consortium (BRC) has shown that that the rise of inflation has shaken consumer confidence. The data showed that consumer expectations over the next three months with the state of the economy worsening to -33 in July, down from -28 in June. Personal financial situation worsened to -7 in July, down from…
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New data from Atradius has shown that insurance claims rose in June, reversing the downward trend observed since the start of the year. Despite this uptick, several sectors are showing signs of recovery – highlighting the resilience of UK businesses amid ongoing economic uncertainty. Claims rose notably in: · Consumer durables – up 140% YoY,…
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A student from Northwest London has been sentenced at Southwark Crown Court to seven years in prison for the creation and selling of phishing kits, designed to help fraudsters steal money from victims. The sentencing follows investigation and arrest by specialist banking industry sponsored police unit, the Dedicated Card and Payment Crime Unit (DCPCU) who received…
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Over a third (35%) of bank customers do not feel valued by their bank, according to Which? research. The consumer champion’s survey in May of 13,660 members of its Connect Panel found that many people had noticed services being removed over the past two years. The most common issues raised included the loss of paper…
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