Banking News
Financial problems biggest issue facing Britain
Over half of Britons (53%) feel financial problems are the single greatest issue facing the nation today, up by a quarter (from 21%) in just 12 months, according to research by AXA.
Bailing out banks unfair on building societies and their members
This was the message today from John Goodfellow, Chairman of the Building Societies Association, speaking at the Association's Annual Lunch. He noted the strength and prudence of the mutual model, but highlighted the unfair way the sector had been forced to pay for failed banks.
Alliance Trust: Current UK banking sector
Commenting on the current UK banking sector, Tim Gibbens, Global Financials Analyst at Alliance Trust, said: "The banking sector has been through a turbulent time and investors will be keeping a close eye on banks' interim management statements to determine how the credit crunch and the recent government bail-out package have affected them.
Banks welcome government action
Moves to support the banking industry and to inject liquidity into the money markets were welcomed by the UK's leading banks as they acted to cut interest rates on mortgages and loans.
Going, going...gone
Kevin Mountford, head of banking at moneysupermarket.com, comments: "We knew this was coming but this is unprecedented territory - for over half of all fixed rate bonds to just disappear is unheard of and will leave savers wondering where to turn.
Too little, too late as the BoE slashes interest rates
Latest market comment from Paul Niven, Head of Asset Allocation at F&C: "Today saw an unprecedented and larger than expected 150bp cut by the Bank of England (to 3%) and the ECB delivering, as expected, a half point cut to rates (to 3.25%).
Consumers want more rate cuts
Fool.co.uk welcomes the Bank of England's decision to slash interest rates by 1.5% to 3%. Hopefully, this is the first of many bold moves that the Monetary Policy Committee will make in the coming months.
Bank of England cuts interest rates to 3.0%
The Bank of England's Monetary Policy Committee today voted to reduce UK interest rates to 3.0%.
Facility takeover fraud increases
Promising, figures from CIFAS the UK's Fraud Prevention Service show a 4.5% decrease on last year in the number of identity fraud victims filed by CIFAS members.
Lloyds TSB issue shareholder circular ahead of proposed HBOS acquisition
Lloyds TSB has invited its shareholders to vote on its proposed acquisition of HBOS and its capital raising plans at a General Meeting on 19th November.
Consumers must be at the heart of retail banking regulation
As the Financial Services Authority (FSA) publishes its consultation paper proposing a new framework to regulate the way that banks treat their customers, Which? personal finance campaigns manager, Doug Taylor, says:
FSA consults on regulating retail banking conduct of business
The Financial Services Authority (FSA) has published a consultation paper proposing a new framework to regulate the way that banks treat their customers.
‘Where is the consumer bail-out?' asks Which?
Billions of pounds of taxpayers' money has been committed to bail out the UK's failing banks. Now is the time for banks to help out consumers and for the Government to ensure that the banks are putting consumers at the heart of their business, says Which? as it launches a major new campaign to reform banking.
Lloyds TSB branches see surge in customers seeking guidance
Research amongst 150 Lloyds TSB branch managers has revealed Britons are taking the current economic climate seriously and are looking closely at their own financial situation.
moneysupermarket.com: Skipton and Scarborough merger
Commenting on the forthcoming merger between the Skipton and Scarborough building societies, Kevin Mountford, head of banking at moneysupermarket.com, said: "Whilst this is being presented as a merger between the Skipton and the Scarborough, it is clear that it is really a bail out of the latter.