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Bank of England takes action over bad loans

The Bank of England has forced banks to find a further £11.4bn in the next 18 months to beef up their finances against the risk of bad loans. Banks will have to set aside £5.7bn in the next six months in case future economic shocks mean some borrowers cannot keep up...

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Restructure to wipe £55m off Provident’s expected profit

Doorstep lender Provident predicts profit from its consumer credit division will drop by nearly half compared to last year, due to disruption in restructuring its collections and sales teams. It said the impact and costs of implementing a new operating model will...

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FCA warns of more investigations

The Financial Conduct Authority is likely to open more investigations into believed wrongdoing when the senior managers regime has been fully extended, its director of investigations has said. In a speech in London yesterday (15 June) Jamie Symington said the FCA...

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Six lenders cancel their HCSTC permission

Six lenders have cancelled their high-cost short-term credit (HCSTC) permission between 1st January 2016 and 30th April 2017. The figure was revealed following a freedom of information request submitted by Loan Talk to the FCA. The FCA took over the responsibility for...

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FCA cancels three advice firms’ permissions over unpaid fees

Three investment advice firms have had their permissions cancelled by the FCA for failing to pay their regulatory fees Nottingham based Logic Financial Solutions was due to pay the FCA £6,316.30 by last September to cover its regulatory fees and levies for the year to...

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Ransomware: Latest NCSC Guidance

The latest NCSC guidance on Ransomware Docu.Document The NCSC are aware of a ransomware campaign relating to version 2 of the “WannaCry” malware affecting a wide range of organisations globally. NCSC are working with affected organisations and partners to investigate...

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