The Lending Standards Board (LSB) has identified several improvements around debt collection between lenders and agencies in the past year, but also revealed that one supplier failed an assessment. The findings are revealed in its annual report for 2014/2015, which includes full findings of the LSB’s monitoring and assessments during the past 12 months.

As part of this scheme the LSB carried out six assessments of ‘associate subscribers’ in the past year. Five were successful – these were 1st Credit, Cabot Credit Management, Experto Credite, Robinson Way and Hillesden Securities. These firms are now under the LSB’s monitoring regime. However one company failed the assessment. The firm is not named, but the annual report shows the company had an issue graded ‘red’ in its compliance monitoring. The company has now been given time to make improvements.......Read more here