Banking News

Almost 9 out of 10 of people in Britain think that older people are more at risk of scams now than in previous years, with three quarters worried their older relatives or friends could fall victim to a scam.

Following recent news of bank customers' details being sold on eBay, Fairinvestment.co.uk is offering tips on how to avoid identity and credit card fraud.

The Financial Services Authority (FSA) has today issued a consultation paper proposing Handbook changes that are required to implement aspects of the Payment Services Directive (PSD).

Fears that other UK banks could be on the brink of collapse, forcing the Bank of England to mount a rescue operation akin to Northern Rock are "mis-placed scaremongering", according to Ted Scott, manager of the F&C UK Growth & Income Fund.

In its latest Market View report, Alliance Trust says UK banks still have relatively low capital ratios, compared to their European, North American and Asian peers, leading to ongoing uncertainty over the strength of their balance sheets. On this basis, further capital raising cannot be ruled out.

AEGON UK is calling on the FSA to take account of what consumers want from financial advisers as it moves ahead with its advice reform agenda with the Retail Distribution Review.

Commenting on the possible launch of Metro Bank in Greater London, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "This would be a very interesting move. Some people will say it is foolish time to enter the banking market given the expectation of recession and the lack of consumer confidence.

Just 12 months into the credit crunch and lending in the mortgage and unsecured loan market has fallen at a rapid pace of £2.7 billion a quarter on average over the last year.

Scarborough Building Society recorded another positive voting turnout for today's Annual General Meeting (AGM).

Chris Rolland, Head of American Express Insurance Services commented: "We welcome the findings from the Which? report; its totally right for consumers to be price driven but not to the expense of quality and cover that meets important needs for valuable insurance protection - this is the key issue."

New Star's Simon Ward comments: Broad money supply and credit numbers have been boosted by the financial crisis and the Bank of England's special liquidity scheme (SLS) has increased the distortion.

The Coventry, UK building society, has announced its interim results for the six months ended 30 June 2008.

People shopping online for insurance or other financial products may not always get the best deal if they rely on a single price comparison site, according to research by Which? Money.

Matt Dransfield, Car Insurance Expert at Tescocompare.com responds to the Which? report on price comparison sites: "The Which? investigation highlights some important short-fallings of the three price comparison sites reviewed.

Carlton Hood, CEO of Confused.com, says: "We are surprised by the findings of the Which? report, as Confused.com prides itself on the accuracy of our prices and the transparency of our service.