Banking News
BSA: Government intervention to support lending
Commenting on the Government's intervention to support lending announced today, Adrian Coles, Director-General of the Building Societies Association, said: "We welcome this package - any moves to improve confidence in UK banking and the UK housing market are welcome.
moneysupermarket.com: Government's new bailout scheme
Commenting on the Government's new bailout scheme, Kevin Mountford, head of banking at moneysupermarket.com said: "However necessary these measures are, the bigger question remains - why are we, the taxpayer, being asked yet again to bail out businesses that have been managed irresponsibly in recent times?
Effective and efficient lending is key to avoiding serious recession
Commenting on reports that the Treasury is to announce an insurance scheme for banks to try to revive confidence in the industry, Liberal Democrat Shadow Chancellor, Vince Cable said: "It's undoubtedly the case that there is an extreme crisis in the banks as revealed by the continuing panic selling of shares and the stasis that is crippling the economy.
Nationalisation of Anglo Irish Bank
Commenting on the nationalisation of Anglo Irish Bank, Kevin Mountford, head of banking at moneysupermarket.com, said: "The nationalisation shows that, after the financial bloodbath that was 2008, there is still worse to come.
The Co-operative Bank responds to latest base rate change
The Co-operative Bank has announced its response to the latest reduction in the Bank of England's base rate.
Financial Ombudsman gears up for record year of complaints
The Financial Ombudsman Service has published for consultation its proposed budget for next financial year (2009/10) - together with an update on the budget for the current year (2008/09) and the corporate plan for the next three years.
Bank of England move was a step too far
Thursday's Bank of England decision to cut interest rates has proved to be extremely unpopular with the electorate.
RBS and Natwest to balance needs of both savers and borrowers
NatWest and RBS strike a balance between the interests of savers and borrowers as it announces a cut in its Standard Variable Rate by 0.25% to 4.19%.
Newcastle Building Society announces redundancies
Newcastle Building Society is set to make up to 150 redundancies as a result of continued unprecedented market conditions.
Brits open up about money in tough times
The economic downturn may have broken the taboo of talking about money, according to research from CreditExpert.co.uk.
Rate cuts are not working
Following today's fourth consecutive cut in interest rate decision by the Bank of England, financial website Fool.co.uk is calling on the Government to reduce income tax with immediate effect to revive consumer finances.
uSwitch.com: Bank of England base rate cut
In response to today's decision by the Bank of England to decrease the base rate by 0.5% to 1.5%, Louise Bond, personal finance manager at uSwitch.com comments: "With 2009 set to be one of the toughest years on record for consumers, the Bank of England's move today indicates that it will continue to take an aggressive approach by slashing rates to a record low of 1.5%.
UK interest rates cut 0.5%
The Bank of England today voted to reduce interest rates by 0.5 percentage points to 1.5%.
Hard drive hijacking
People disposing of their old computers could easily fall victim to identity theft - even if they delete files or wipe the hard drive, warns Which? Computing.
FSA must get to grips with depositor protection
As the Financial Services Authority (FSA) publishes its consultation on changes to the financial services compensation scheme (FSCS), Which? personal finance campaigner, Tori Watson, says: "The FSA needs to urgently get to grips with consumers' concerns about the security of their money.