Banking News
moneysupermarket.com: Report on Banking Reform
Commenting on the Treasury Committee report on Banking Reform, Kevin Mountford, head of banking at moneysupermarket.com, said: "From having little profile, the Financial Services Compensation Scheme and the role it plays has gained greater prominence since the run on Northern Rock just over a year ago. Suddenly the average saver is taking notice.
Further proposals to protect depositors
In a new report the Treasury Committee sets out its proposals in the light of the recent consultation papers on financial stability published by the Tripartite Authorities.
Lehman Brothers' collapse
Commenting on the Lehman Brothers' collapse, Kevin Mountford, head of savings at moneysupermarket.com, said: "This is a shocking disappointment for an already fragile market. Over the weekend many commentators suggested good news was on the way for consumers in the form of mortgage rate cuts following the US government's bail out of Freddie Mac and Fannie Mae.
Banking compensation reforms must make sense to consumers
In its response to the latest Tripartite consultation on Financial Stability and Depositor Protection, the Consumer Panel has highlighted the issues that need to be looked at from the consumer point of view to ensure confidence in the future system.
Consumer satisfaction with IFAs at record levels
Satisfaction levels amongst consumers who go on to see an Independent Financial Adviser (IFA) after using Unbiased.co.uk's ‘Find an IFA' service, are at record levels.
Faster Payments passed one million transactions a day mark
More than half of all online banking and phone payments now processed through Faster Payments Service.
Ed Balls and Nationwide launch financial capability programme
Nationwide Building Society and Ed Balls MP, Secretary of State for Children, Schools and Families, launch the latest phase of Nationwide Education.
Growth of average personal debt gathering pace
The average level of debt driving consumers to the solution of an IVA or debt management plan (DMP) has steadily risen over the past four months – and the intense stress that goes with it is making them ill, reports IVA comparison site IVA.com.
The Co-operative Financial Services launches ‘goodwithmoney'
The Co-operative Financial Services has launched its very own blog at blog.goodwithmoney.co.uk.
One cheer for Freddie and Fannie, says AWD Chase de Vere
The US Government's bail-out of Freddie Mac and Fannie Mae on Sunday was met with a euphoric market reaction on Monday - but a more sober reflection will show that stock price rises are not, on their own, a cause for optimism according to AWD Chase de Vere.
Record number of savers search for lost accounts
The account tracing website mylostaccount.org.uk has notched up over six months of success, during which time over 140,000 individuals have searched online for their forgotten funds.
first direct the bank customers most likely to recommend
Findings from a study of UK banks reveals that First Direct is the bank customers would be ‘most likely to recommend’ to friends and family whilst Barclays, HSBC and Abbey came in the bottom three.
Northern Rock crisis: 1st anniversary
Geoff Tresman, Chairman of Punter Southall Financial Management comments on the first anniversary of the Northern Rock crisis: “Throughout the last year since Northern Rock became the first high-profile casualty of the Credit Crunch, Northern Rock customers have been faced with some very difficult decisions.
Desperately seeking forgotten savers
Halifax has launched its 'Desperately Seeking' campaign - a renewed drive to reunite UK customers with forgotten funds. Having restored over £17.5million of dormant funds to date, Halifax has stepped up its reunification activity, highlighting all unclaimed cash and its location across the UK.
Merger of Nationwide with the Derbyshire and Cheshire
Commenting on the announced merger of Nationwide with the Derbyshire and Cheshire building societies, Kevin Mountford, head of savings at moneysupermarket.com, said: "Changes are afoot in the building society market, and consolidation will be on the cards as many societies face mounting pressures due to current market conditions.