Banking News
Barclays offer free security software to mobile banking customers
Barclays has become the first UK bank to offer its mobile banking customers security software to download free of charge, covering anti-virus, anti spam and anti theft protection.
UK banks' credit losses may top £200bn, but manageable, says Ward
Simon Ward, economist at New Star: "The Bank of England has estimated that major high-street banks would sustain aggregate credit losses over five years of £115-130 billion in a "severe but plausible macroeconomic risk scenario.”
Treasury calls for more to be done to ease flow of credit
In a Report today the Treasury Committee calls for the Government to do more to ease the flow of credit. The Committee's report on the 2008 Pre-Budget Report highlights the lack of bank lending as "the single most critical problem for the economy in the near term."
HSBC reunites thousands with millions in lost cash campaign
HSBC has reunited 3500 customers with more than £5.5 million since launching a national campaign to bring customers back together with forgotten savings and current accounts.
Lloyds Banking Group reuniting customers with dormant funds
Lloyds Banking Group has announced a proactive drive to locate customers with dormant funds in accounts across the UK. The proactive reunification activities, which will be funded by the Group, build on last year's reunification campaigns by both Halifax and Lloyds TSB.
Boom in bankruptcies predicted for 2009
Bankruptcies are predicted to go through the roof in the coming months as rock bottom equity levels in debtors’ homes means they are of little or no value to creditors, according to debt solution website IVA.com.
PayPal offers extra online security to UK customers
PayPal's customers in the UK can now opt for an extra layer of security to help keep them even safer online. The PayPal SMS Security Key texts a unique security code to the customer's mobile phone for them to use to log in to their account, in addition to their usual username and password.
Fraud on the increase
The analysis of fraud trends during 2008 by CIFAS - The UK's Fraud Prevention Service - reveals an unsettling 16% growth in fraud throughout the UK.
FSA extends bank charges waiver again
Commenting on the FSA's announcement yesterday that it has extended the waiver on reclaiming bank charges for another six months while the High Court test case is still ongoing, James Caldwell, director at Fairinvestment.co.uk said:
MPs call for more transparency on bank nationalisations
The Treasury Sub-Committee today (23rd January) publishes its Report, Administration and expenditure of the Chancellor's departments 2007-08.
Banks must deal with hardship cases, says Which?
As the Financial Services Authority (FSA) announces a six month extension to the bank charges waiver, which is due to expire on Monday 26 January, Which? personal finance campaigns manager, Doug Taylor, says:
Northern Rock bonuses indefensible, says Cable
Commenting on the announcement that Northern Rock is to give its staff a 10% bonus, Liberal Democrat Shadow Chancellor, Vince Cable said: "This is bringing the worst of the City bonus culture into a public body.
moneysupermarket.com: Britannia and Co-op merger
Commenting on the likely merger between Britannia Building Society and Co-operative Financial Services, Kevin Mountford, head of banking at moneysupermarket.com, said: "2009 was always predicted to be a year of banking and building society mergers as brands fight tooth and nail to stay afloat.
Britannia and Co-op unveil plans for super-mutual
The Boards of Britannia Building Society and Co-operative Financial Services (CFS) - two of the biggest customer-owned financial services businesses in the UK - today confirm they have agreed to merge to create a super-mutual as a unique, ethical alternative to shareholder- and Government-owned banks.
Beware of Financial Crisis Part 2
Following the Government's announcement to encourage banks to increase lending, David Kuo, financial expert at money website Fool.co.uk, urges anyone applying for credit to be extra cautious.