Banking News
Which bank? - The Co-operative Bank
The Co-operative Bank scoops ‘Best Financial Services Provider' at the annual Which? awardsThe Co-operative Bank has been awarded another top accolade, by winning the prestigious 2009 Which? award for ‘Best Financial Services Provider'.
Organisational changes at Lloyds Banking Group
Commenting on the announced organisational changes at Lloyds Banking Group, Louise Cuming, head of mortgages at moneysupermarket.com says: "There was always going to be a major reorganisation at Lloyds Banking Group following the merger of Lloyds TSB and HBOS and the first phase in that process is now clear.
Gap in financial help for over 50s
A Citizens Advice pilot project which has seen Independent Financial Advisers (IFA) give their time pro-bono in bureaux to advise CAB clients on their financial concerns, has exposed a gap in the availability of impartial help for people who can't afford to pay for advice on their mortgages, pensions or investments.
FSCS leaves charities unclear about protection of banked deposits
A survey of 280 charities by the Charities Aid Foundation (CAF) reveals that only a quarter (25%) are certain they know how much of their funds are protected under the Financial Services Compensation Scheme (FSCS) should their bank fail.
HSBC wins 'Responsible Lender of the Year' award
HSBC has been named the UK retail banking industry's most responsible lender at the 2009 Credit Today awards.
The Co-operative launches international development fund
The Co-operative Bank has unveiled an innovative new global $50m co-operative development fund aimed at helping to alleviate poverty in some of the world's poorest communities.
We are not out of the woods yet
The Bank of England has kept interest rates on hold. It has also left its target for Quantitative Easing unchanged. Neither decision was unexpected following news that lending by banks to businesses dipped in April while lending to individuals rose slightly.
UK interest rates held at 0.5%
The Bank of England's Monetary Policy Committee today voted to maintain interest rates at 0.5%.
FSA proposes extension of separate deposit protection limits
The Financial Services Authority (FSA) today proposes to extend until December 2010 interim rules which allow separate compensation cover for customers with deposits in two merging building societies.
‘Scary and crippling'- victims of facility takeover fraud speak out
Fraud victims are preyed upon by organised criminals, faceless fraudsters and sometimes even those close to them.
The Spanish have landed
Santander gained a foothold in the UK when it bought Abbey in 2004, and continued to build its presence in the UK banking sector when it acquired Alliance & Leicester, and part of Bradford & Bingley during last year's banking crisis.
Too many complaints wrongly dismissed, says Which?
As the Financial Ombudsman Service (FOS) publishes its annual report, Which? personal finance campaigns manager, Doug Taylor, says: "It's shameful that some firms are dismissing so many justified complaints that are upheld.
Santander to rebrand its UK businesses in 2010
Abbey, Alliance & Leicester (A&L) and Bradford & Bingley savings (B&B) will all become known as Santander by the end of 2010. Abbey and B&B savings will be rebranded from the first quarter of 2010 and A&L will follow later in the year, as IT changes ensure any Santander customer in the UK can transact in all its UK branches.
Pawnbrokers go where banks fear to tread
David Kuo, Director at leading financial website The Motley Fool - Fool.co.uk, says: "Recessions can often be good news for pawnbrokers and a trading update from Albemarle & Bond highlights why. It is reaping the benefits of going where banks fear to tread.
Consumers seek good deals in tight credit market
Consumers continue to seek good value during the credit crunch, in what remains a tight market. The latest figures from the Finance and Leasing Association (FLA) show a 12% reduction in overall new consumer lending by its members in March 2009 compared with the same month in 2008.