Latest News Headlines
Commercial Credit News
|StepChange Debt Charity responds to the Bank of England’s Money and Credit statistics|
|Tuesday, 01 December 2015|
Consumer lending continues to rise, with an annual increase of 8.2% reported for the second month running, the highest increases since February 2006. Consumer lending is now up to £177.1 billion, the highest level since July 2010“. Other loans and advances” (consumer credit excluding credit cards) saw an annual increase of 9.6%, the highest for 10 years (since October 2005). “Other loans and advances” now stands at £114.3 billion, the highest level for nearly five years (since November 2010)
In response to today’s Money and Credit figures from the Bank of England, Peter Tutton, Head of Policy at StepChange Debt Charity, said: “Consumer credit continues to rise strongly with some of the biggest increases we have seen in years. It is vital that responsible lending standards do not relax at a time when many households are still financially vulnerable, otherwise we risk repeating the mistakes that led to the large and unsustainable credit balances we saw in the run-up to the financial crisis.
“The consequences of these mistakes continue to cause problems today and must not be allowed to happen again.”
Forums International Ltd
Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.
Find out more here.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.
As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197