http://www.credittoday.co.uk Credit Today Online News en-us Copyright Athene Publishing Limited 2008 http://www.credittoday.co.uk/images/CTfeedlogo.jpg http://www.credittoday.co.uk A major case in which over 300 borrowers took High Court action against Barclays and Lloyds Banking Group over unfair mortgages is approaching its climax. http://www.credittoday.co.uk/news/news-item.cfm?news=1865 30 Jul 2010 11:08:00 EST Bank lending to small businesses in June was over a third lower than in the previous year, despite the British Bankers’ Association (BBA) claiming that its members were making loans of around £27m to small businesses every day. http://www.credittoday.co.uk/news/news-item.cfm?news=1864 30 Jul 2010 10:33:00 EST <i>Credit Today</i> is calling on credit professionals to take part in a joint survey on how their businesses are faring amid economic and political change. http://www.credittoday.co.uk/news/news-item.cfm?news=1866 30 Jul 2010 09:30:00 EST Credit Today is launching a public sector news page in its August edition, and is urging the industry to share its news and views on working with the public sector. http://www.credittoday.co.uk/news/news-item.cfm?news=1867 30 Jul 2010 09:01:00 EST Coface has filed an official request to become an international ratings agency with the Committee of European Securities Regulators (CESR). http://www.credittoday.co.uk/news/news-item.cfm?news=1863 29 Jul 2010 13:22:00 EST Santander UK has posted £875m profits for the first half of 2010, while the stock of properties in possession on its balance sheet remains at just 0.06 per cent. http://www.credittoday.co.uk/news/news-item.cfm?news=1862 29 Jul 2010 12:03:00 EST The Serious Fraud Office (SFO) achieved a 91 per cent conviction rate for the year 2009-10 despite its budget being cut by a fifth.<br/> http://www.credittoday.co.uk/news/news-item.cfm?news=1860 29 Jul 2010 10:17:00 EST Metro Bank, the first new UK high street bank for over 100 years, is flinging open the doors to its first branch today. http://www.credittoday.co.uk/news/news-item.cfm?news=1859 29 Jul 2010 09:54:00 EST Credit reference agency Equifax today reported group revenues rose by seven per cent during the second quarter of this year to $460.7m (£294.2m), compared to the same period a year before. http://www.credittoday.co.uk/news/news-item.cfm?news=1861 29 Jul 2010 09:12:00 EST Banks have today won a victory to secure their rights to the assets of troubled sub-prime lender Cattles. http://www.credittoday.co.uk/news/news-item.cfm?news=1858 28 Jul 2010 17:59:00 EST UK businesses paid their bills an average of three days sooner in the second quarter of 2010 compared to the same time last year, according to figures released today. http://www.credittoday.co.uk/news/news-item.cfm?news=1857 28 Jul 2010 14:18:00 EST HM Revenue and Customs (HMRC) has revealed that two more debt collection agencies (DCAs) have signed contracts to collect £140m of tax debt by 2011.<br/> http://www.credittoday.co.uk/news/news-item.cfm?news=1856 28 Jul 2010 12:11:00 EST Over three quarters of UK firms believe traditional bank credit is still too difficult for most businesses to obtain, according to new research. http://www.credittoday.co.uk/news/news-item.cfm?news=1855 28 Jul 2010 11:19:00 EST Skipton Building Society today reported its group profits have soared by 48 per cent during the first half of this year. http://www.credittoday.co.uk/news/news-item.cfm?news=1854 27 Jul 2010 16:38:00 EST The Office of Fair Trading raked in £197m in fines last year after the watchdog ramped up its enforcement action, according to its annual report out today. http://www.credittoday.co.uk/news/news-item.cfm?news=1853 27 Jul 2010 15:27:00 EST Lloyds TSB has won a landmark court victory which will curtail the number of ways consumers can challenge the enforceability of debts relating to payment protection insurance (PPI). http://www.credittoday.co.uk/news/news-item.cfm?news=1852 27 Jul 2010 14:57:00 EST Four out of five credit managers believe that public sector spending cuts will spark a sharp increase in business insolvencies within the next year, according to credit reference agency Graydon. http://www.credittoday.co.uk/news/news-item.cfm?news=1851 27 Jul 2010 12:53:00 EST A former Northern Rock finance director has been banned and fined £320,000 by the Financial Services Authority (FSA) for his role in the bank's cover up of bad mortgages. http://www.credittoday.co.uk/news/news-item.cfm?news=1850 27 Jul 2010 10:36:00 EST Banks are facing renewed pressure to increase lending to cash-strapped businesses after Vince Cable warned today that bonuses could be tied to lending. http://www.credittoday.co.uk/news/news-item.cfm?news=1849 26 Jul 2010 16:23:00 EST The regulation of consumer credit could be removed from the Office of Fair Trading and placed to a new body – the Consumer Protection and Markets Authority (CPMA) – under proposals unveiled today. http://www.credittoday.co.uk/news/news-item.cfm?news=1848 26 Jul 2010 11:26:00 EST The UK economy grew by 1.1 per cent in the second quarter of 2010, according to preliminary estimates from the Office for National Statistics (ONS). http://www.credittoday.co.uk/news/news-item.cfm?news=1847 23 Jul 2010 12:25:00 EST Enforcement agency Shergroup is considering launching legal action against the BBC, after it broadcast footage of a Sherforce agent appearing to kick a protester while evicting him from Parliament Square. http://www.credittoday.co.uk/news/news-item.cfm?news=1846 23 Jul 2010 11:23:00 EST Mortgage lending by the major UK banks dipped in June compared with the previous month, according to figures out today by the British Bankers Association. http://www.credittoday.co.uk/news/news-item.cfm?news=1845 23 Jul 2010 10:48:00 EST Yorkshire and Clydesdale Banks have apologised to 18,000 customers after an error left the borrowers underpaying their mortgages. http://www.credittoday.co.uk/news/news-item.cfm?news=1844 22 Jul 2010 10:52:00 EST Online retailers are facing a crackdown on the way they conduct transactions after the Office of Fair Trading (OFT) launched a consultation aimed at improving consumer protection. http://www.credittoday.co.uk/news/news-item.cfm?news=1843 22 Jul 2010 10:49:00 EST Embattled law firm Halliwells has finally sunk into administration and appointed BDO to handle its collapse. http://www.credittoday.co.uk/news/news-item.cfm?news=1842 21 Jul 2010 14:07:00 EST Debt solutions provider Fairpoint Group today revealed it has provided three times as many debt solutions during the first half of this year compared to the whole of 2009 and said it had acquired price comparison site Moneyextra. http://www.credittoday.co.uk/news/news-item.cfm?news=1841 21 Jul 2010 10:28:00 EST The Scottish government is being taken to the European Court of Human Rights over its handling of a case concerning excessive bank charges. http://www.credittoday.co.uk/news/news-item.cfm?news=1840 21 Jul 2010 10:19:00 EST Demand for asset based finance services has increased dramatically following a high number of deal closures and new business enquiries, according to new research.<br/> http://www.credittoday.co.uk/news/news-item.cfm?news=1839 20 Jul 2010 11:02:00 EST The Insolvency Service has put forward "carefully considered" proposals to government to cut costs – which will lead to fewer investigations into suspected rogue directors. http://www.credittoday.co.uk/news/news-item.cfm?news=1838 20 Jul 2010 10:51:00 EST Retail lender Brighthouse has increased its annual revenues by 16 per cent in the last financial year. http://www.credittoday.co.uk/news/news-item.cfm?news=1837 20 Jul 2010 09:29:00 EST Fraud losses rocketed to over £1bn in the last six months while the average single fraud value increased to almost £6m, according to a report published today. http://www.credittoday.co.uk/news/news-item.cfm?news=1836 19 Jul 2010 13:41:00 EST The number of company directors facing disqualification has soared by 17 per cent over the last year. http://www.credittoday.co.uk/news/news-item.cfm?news=1835 19 Jul 2010 11:30:00 EST Royal Bank of Scotland Group (RBS) is to receive $100m (£65m), in compensation from Goldman Sachs as part of a settlement made over fraud allegations. http://www.credittoday.co.uk/news/news-item.cfm?news=1834 16 Jul 2010 13:36:00 EST Top bankers have been grilled over credit availability and regulation in their first meeting with the new chancellor and business secretary in Westminster. http://www.credittoday.co.uk/news/news-item.cfm?news=1833 16 Jul 2010 10:31:00 EST The director general of the Association of British Insurers (ABI) is to quit her role after less than six months, to return to her native Australia. http://www.credittoday.co.uk/news/news-item.cfm?news=1832 16 Jul 2010 09:24:00 EST A mortgage firm has been fined £630,000 for unfair treatment of its customers by the Financial Services Authority (FSA). http://www.credittoday.co.uk/news/news-item.cfm?news=1831 15 Jul 2010 12:07:00 EST The rules governing consumer credit agreements and personal insolvency are being reviewed by the government, it was announced today. http://www.credittoday.co.uk/news/news-item.cfm?news=1830 14 Jul 2010 12:38:00 EST Banks should provide estimates of the charges their customers will face, according to the new chairman of the Treasury Select Committee. http://www.credittoday.co.uk/news/news-item.cfm?news=1829 14 Jul 2010 10:03:00 EST <i>Credit Today</i> has joined risk consultants JaywingDMG to survey credit professionals on how their businesses are faring amid economic and political change. http://www.credittoday.co.uk/news/news-item.cfm?news=1828 14 Jul 2010 09:41:00 EST The Insolvency Service has swung the axe on 50 front line official receiver investigators in a move which is "tantamount to legalising corporate theft", according to sources. http://www.credittoday.co.uk/news/news-item.cfm?news=1827 13 Jul 2010 17:33:00 EST Banks are not lending enough to households and businesses, the chairman of HSBC has admitted today. http://www.credittoday.co.uk/news/news-item.cfm?news=1826 13 Jul 2010 14:32:00 EST The Financial Services Authority has revealed the combination of elements that make up the most toxic type of mortgage sold in the UK. http://www.credittoday.co.uk/news/news-item.cfm?news=1825 13 Jul 2010 13:14:00 EST The Financial Services Authority today sounded the death knell for the notorious self-certification mortgages, by requiring lenders to verify borrowers’ income in all cases. http://www.credittoday.co.uk/news/news-item.cfm?news=1824 13 Jul 2010 12:55:00 EST A third of businesses were refused additional credit from their banks during the first half of this year, according to research out today by the Institute of Directors (IoD). http://www.credittoday.co.uk/news/news-item.cfm?news=1823 13 Jul 2010 10:22:00 EST The Office of Fair Trading has today slammed requirements on a debt management company after finding it advertised free services even though consumers were being charged. http://www.credittoday.co.uk/news/news-item.cfm?news=1822 12 Jul 2010 14:23:00 EST The Credit Services Association (CSA) is moving towards a formal accreditation programme that would benchmark individual collectors’ know-how and compliance. http://www.credittoday.co.uk/news/news-item.cfm?news=1821 12 Jul 2010 12:01:00 EST Two convicted tax fraudsters must repay £92.3m to HM Revenue and Customs (HMRC) in its biggest ever confiscation order. http://www.credittoday.co.uk/news/news-item.cfm?news=1820 12 Jul 2010 11:10:00 EST Consumers can now access their statutory credit report online for a £2 nominal from all three major credit reference agencies, after an agreement was struck with the government. http://www.credittoday.co.uk/news/news-item.cfm?news=1819 12 Jul 2010 10:25:00 EST The credit card industry must reassess its business model to reduce negative publicity and achieve better outcomes with regulators, according to a leading industry figure. http://www.credittoday.co.uk/news/news-item.cfm?news=1818 09 Jul 2010 12:20:00 EST The number of businesses in the UK which failed in the second quarter of 2010 has fallen nearly 20 per cent on the same period in 2009. http://www.credittoday.co.uk/news/news-item.cfm?news=1816 09 Jul 2010 11:15:00 EST The credit card industry will continue to contract for years before it returns to modest growth, according to the chief executive of Santander cards. http://www.credittoday.co.uk/news/news-item.cfm?news=1814 09 Jul 2010 09:38:00 EST The Forum of Private Business has sent Freedom of Information (FoI) Act requests to every police force in the UK to uncover how quickly they pay suppliers. http://www.credittoday.co.uk/news/news-item.cfm?news=1815 08 Jul 2010 09:51:00 EST Courts are owed more than £1.3bn in unpaid fines, compensation and confiscation orders, according to a damning report from the National Audit Office (NAO) on the Ministry of Justice. http://www.credittoday.co.uk/news/news-item.cfm?news=1817 07 Jul 2010 12:06:00 EST The Office of Fair Trading today imposed requirements on credit broker and debt management provider Nasser Mohammed Yusuf to comply with the Consumer Credit Act. http://www.credittoday.co.uk/news/news-item.cfm?news=1813 06 Jul 2010 16:10:00 EST The head of the government’s spending watchdog, Sir Alan Budd, is to step down after just three months in the job. http://www.credittoday.co.uk/news/news-item.cfm?news=1811 06 Jul 2010 11:31:00 EST Tax debtors could be forced to pay increased costs to HM Revenue and Customs (HMRC) if it succeeds in an ongoing bid to change current civil court procedure. http://www.credittoday.co.uk/news/news-item.cfm?news=1810 06 Jul 2010 11:25:00 EST The Financial Services Authority (FSA) has banned six mortgage brokers and fined one over £130,000 for mortgage fraud and related offences. http://www.credittoday.co.uk/news/news-item.cfm?news=1809 05 Jul 2010 16:03:00 EST Four out of five UK firms are still struggling to obtain traditional bank credit, with no signs of the situation improving until December, according to a study published today. http://www.credittoday.co.uk/news/news-item.cfm?news=1808 05 Jul 2010 11:29:00 EST The Financial Services Authority (FSA) has lost its third senior official in less than a month following the resignation of chief operating officer Mark Norris. http://www.credittoday.co.uk/news/news-item.cfm?news=1807 02 Jul 2010 16:33:00 EST Burdensome new regulation could shrink the availability of credit to customers due to higher implementation costs, the director general of the Finance and Leasing Association (FLA) has warned. http://www.credittoday.co.uk/news/news-item.cfm?news=1805 02 Jul 2010 10:43:00 EST A former Halliwells solicitor has been struck off after embezzling over £90,000 from the firm's clients. http://www.credittoday.co.uk/news/news-item.cfm?news=1806 02 Jul 2010 09:50:00 EST