Banking News
Market confidence moves welcomed
Moves to maintain market confidence and crackdown on possible abuse during rights issues were welcomed by the British Bankers' Association.
Society thousands up for grabs in birthday celebrations
Hundreds of charities and community groups across the nation could soon be benefiting from a cash boost as the Yorkshire Building Society Charitable Foundation invites people to nominate good causes to share in its tenth anniversary charity give-away!
BBA announces steps to strengthen LIBOR
The global borrowing benchmark BBA LIBOR is to be strengthened by reinforcing the scrutiny of its contributor banks and expanding the membership of its governing body and its panels.
Half of Brits affected by 'unfair' bank charges
More than half of banking customers pay bank charges, research from FairInvestment.co.uk has revealed.
Faster Payments Service for standing order payments
APACS, the UK payments association, has confirmed the start of the Faster Payments Service for standing order payments.
Citizens Advice calls on people in debt to share experiences
Citizens Advice, the charity which helps people resolve their legal, money and other problems by providing free information and advice, is working with National Debtline and Advice UK on a major project looking at people's experience of dealing with their own debt problems.
The worst of two possible worlds
The Bank of England left interest rates on hold today. It is the second month in succession that the Monetary Policy Committee has chosen to sit on its hands.
Don't be fooled by clever marketing
Action to protect people whose financial difficulties may make them prey to ‘get out of debt free' promotions was welcomed by the British Bankers' Association.
OFT warns consumers of misleading IVA mailings
The OFT is warning consumers to be careful before responding to unsolicited mailings which advise them to cancel existing individual voluntary arrangements (IVAs) and which suggest they opt for an alternative debt management solution such as bankruptcy instead.
moneysupermarket.com: Findings on PPI
Commenting on the Competition Commission's findings into PPI, Stuart Glendinning, managing director of price comparison site, moneysupermarket.com, said: "You reap what you sow.
Competition Commission proposals need careful consideration
It is important that customers do not find themselves short of valuable protection and so new proposals on the selling of Payment Protection Insurance (PPI) must be considered carefully, the British Bankers' Association (BBA) said today.
UK interest rates held at 5%
The Bank of England's Monetary Policy Committee today voted to maintain interest rates at 5.0%.
Consumer Panel response to Competition Commission on PPI
In response to the report from the Competition Commission on PPI (Payment Protection Insurance) the new Chairman of the Financial Services Consumer Panel, David Lipsey, a crossbench peer, said: "PPI, both products and sales, has been a source of inexcusable scandals for too long.
ABI: Competition Commission's findings on PPI
Commenting on publication of the Competition Commission's latest report on Payment Protection Insurance (PPI), Nick Starling, the ABI's Director of General Insurance and Health, said: "We acknowledge that there have been problems in the PPI market and we have done a lot to change that; these changes now need time to bed in.
Consumers overcharged for PPI
Companies face little or no competition when selling Payment Protection Insurance (PPI) to their credit customers and as a result customers appear to be overcharged by over £1.4 billion a year, the Competition Commission (CC) has said in its provisional findings report into the sale of PPI in the UK.