Payments Innovator, Contis, Hires Businesswoman of the Year as General Counsel & Chief Risk Officer | 2020-05-27 | Press Releases

LONDON, May 27, 2020 /PRNewswire/ — Spearheading growth in the fintech sector, payments innovator Contis is delighted to announce the appointment of Lara Oyesanya FRSA as its first General Counsel and Chief Risk Officer. Lara joins the Executive Team with responsibility for legal, risk, compliance & fraud, and human resources.

This important strategic appointment delivers for Contis’ ambitious growth plans. By bringing legal functions in-house, Contis can react to the market with agility and speed, improve client acquisition and reduce onboarding times. Lara’s appointment also brings experience in leadership and corporate culture from across the fintech space.

Lara joins from […] Read more

REALITY CHECK: Will deferring debt payments amid COVID-19 hurt your credit score?

What happens to your credit score when you take up a lender’s offer to defer a debt payment?

The question has been nagging Canadians pondering the opportunity to postpone payments on their mortgage, credit cards, auto loans and bills amid the COVID-19 pandemic.

Canada’s big six banks and a variety of other lenders and utility providers have announced programs that would allow customers to defer up to several months’ worth of payments if they are facing financial hardship because of the health emergency.



Often these options come with the guarantee that lenders will not report deferrals as missed or late payments, which would […] Read more

REALITY CHECK: Will deferring debt payments amid COVID-19 hurt your credit score? – National

What happens to your credit score when you take up a lender’s offer to defer a debt payment?

The question has been nagging Canadians pondering the opportunity to postpone payments on their mortgage, credit cards, auto loans and bills amid the COVID-19 pandemic.

Canada’s big six banks and a variety of other lenders and utility providers have announced programs that would allow customers to defer up to several months’ worth of payments if they are facing financial hardship because of the health emergency.

2:23Open House: Mortgage deferrals

Open House: Mortgage deferrals

Often these options come with the guarantee that lenders will not report deferrals as […] Read more

People deferring their mortgage payments are making an unpleasant discovery: it can wreck your credit rating

When Richard Hayward made the decision to defer his mortgage payments for two months as the result of a COVID-19 job layoff, the bank assured him it wouldn’t affect his credit score, but Hayward is skeptical.

“I’m pretty sure deferred mortgage payments affects your credit rating,” said Hayward, a commercial diver from Pontypool, Ont. “My credit rating is really good. I know people with worse credit scores. Personally, I’m not worried, but I can sympathize with people in much more precarious situations.”

Richard Moxley, author of “The Credit Game: Rules Every Canadians Must Know to Win,” says that the […] Read more

Deferred Mortgage Payments: A Credit Score Gamble?

Last week, the President of the Canadian Bankers Association announced that all six major banks would offer deferral payments on their mortgages and other credit products. Just like many public announcements over the last couple of months, many were left with more questions than answers.

One question that still has yet to be answered is, how deferred mortgage payments might affect your credit score? Equifax recently announced, “In the event that a [lender] makes a credit relief or payment deferral program available to its consumers to opt out of making monthly payments during the pandemic, Equifax’s expectation is that the [lender] […] Read more

Tenants can now boost their Equifax credit score by recording rent payments

RENTERS who want to boost their credit score can now report their payments to their landlords to three of the major credit reference agencies.

Property technology firm Credit Ladder previously helped tenants boost their ratings by creating a system which connects their bank accounts and rent payments to Experian.

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Your credit score is key to helping you get a good mortgage

Now the scheme has rolled out to Equifax and Call Credit too.

This means Equifax, Experian and Call Credit will now take into account your rent payments when working out your credit score.

Having a healthy credit score means you are […] Read more

Mastercard To Join China’s $27T Payments Market

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In today’s top payments news, Mastercard was approved for a bank card clearing business in China, and a judge rejected Uber and Postmates’ request to stop California’s new gig economy law. Also, the Department of Justice charged four Chinese intelligence officers with the 2017 cyberattack on credit reporting giant Equifax.

Mastercard Gets Nod To Join China’s $27T Payments Market

China approved Mastercard for a bank card clearing business with its partner, NetsUnion Clearing Group, giving the company access to a $27 trillion payments market. The approval is part of the country’s decision to open its financial system, part of the “phase one” trade […] Read more

Low-, moderate-income people get help with down payments on new homes

Lee Ann MacDonald remembers how “surreal” it felt the very first time she walked through the front door of her new home in Medford last year.

MacDonald, 37, a Suffolk County police officer and single mother of two, had spent the past several years cramped in a tiny two-bedroom apartment in Ridgewood, Queens, where her daily routine was interrupted by the roar of the passing railroad.

The dream of owning her own home, where she could put a playground in the backyard for her four-month-old daughter Kaiyah, seemed next to impossible.

But MacDonald’s aspiration of homeownership received a helping hand through the Suffolk County HOME Consortium […] Read more