Credit, Collections & Insolvency News
The system of regulating water companies needs “a complete overhaul” as the sector hikes customer bills to expand failing infrastructure and tackle pollution, according to a new report by the Government’s Public Accounts Committee (PAC). The report says that the water system has been left to sink for too long, with hikes in customer bills…
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The average cost of driving for young motorists, aged under 25, has fallen by £678 in the past year, according to the latest research from Compare the Market. The decline in the cost of driving is mainly due to a drop in the average car insurance premium, which decreased to £1,437 in March 2025, compared…
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GB Bank has announced that it has strengthened its lending leadership team with the appointments of Jude Miranda as Senior Credit Partner and Alan Fitzpatrick as Head of Lending Operations. Miranda joins with more than 30 years of lending experience, including roles at Shawbrook Bank, Masthaven Bank, Hampshire Trust Bank and, most recently, Glenhawk. As…
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Full-service credit management firm, Perch Group has announced the successful completion of a £300 million amendment to its existing funding arrangements, improving terms, extending maturity, and enhancing financial flexibility. The expanded package brings Lloyds into an already robust banking syndicate led by NatWest Group PLC, alongside Shawbrook Bank Limited, Paragon Bank PLC, Hampshire Trust…
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A new study by KidsKnowBest, has revealed that financial anxiety is not a distant adult concern, but a present reality for UK children aged 7-14. Nearly half (46%) children are worried about money and their future and one in four children (24%) are explicitly anxious about basic needs. More than half (55%) of respondents revealed…
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Consumer lender Fluro has announced that it has appointed two new Non-Executive Directors to its board. David Kenmir joins the board as Chair. Having spent more than a decade at the Financial Services Authority – the precursor to the FCA – including five years as a member of its board, Executive Committee and Regulatory Policy…
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The Financial Conduct Authority (FCA) has proposed new regulations for Buy Now, Pay Later (BNPL) providers, requiring them to ensure that borrowers can afford repayments and to offer support in the event of financial difficulties. The rules will come into effect when BNPL falls under the FCA’s oversight next year, granting borrowers protections similar to…
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Latest Office for National Statistics (ONS) data has shown that inflation has increased to 3.6 per cent in the year to June, up from 3.4 per cent in May. The figures exceeded analysts’ predictions that inflation would remain at May’s level. The rise was driven by motor fuel and food costs, with food price inflation…
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Data from Barclays reveals a slight decline in consumer card spending, with a 0.1% fall recorded in June, less than the 1.0 per cent reported in May and below the latest CPIH inflation rate of 4.0 per cent. Confidence in household finances improved six percentage points to 73 per cent – a four-month high. Meanwhile,…
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New data from Coram Family and Childcare’s annual Holiday Childcare Survey has found that childcare costs have gone up by 4% since last summer. The data shows that working parents face an average bill of £179 per child per week – £1,075 for the six-week break. Commenting on the data, Susannah Streeter, Head of Money…
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New analysis from FICO has revealed a worrying trend of rising card fraud levels and losses across the continent. The data from Euromonitor International on 18 countries shows that Card Not Present (CNP) fraud dominates card fraud losses and has increased across most countries. E-commerce fraud, e-wallet, social engineering and QR code fraud or “quishing”…
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The Insolvency Service has announced ambitious and transformational plans to play a more prominent role in the fight against economic crime and be recognised as the UK’s leading authority in enforcing corporate and insolvency standards. The strategy commits the agency to broadening its remit, taking robust action against criminals who defraud businesses and taxpayers, and…
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The Financial Conduct Authority (FCA) has fined Barclays Bank a total of £42 million for separate instances of failings in its financial crime risk management – one relating to WealthTek and one relating to Stunt & Co. Barclays Bank UK PLC will make a voluntary payment to WealthTek’s clients. In the first case, Barclays Bank…
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