Banking News
Bankrupt Britain
New figures published today by The Insolvency Service reveal that just three months into 2008 and 25,264 people have already fallen victim to the insolvency epidemic with 9,614 IVAs and 15,651 bankruptcies reported.
NSPCC and Principality team up to make a difference for children
Children's charity NSPCC Cymru/Wales has been chosen by Principality Building Society as its Charity of the Year for 2008.
Turn May Day into pay day
With the Euro exchange rate pushing up the price of a short break, rising fuel prices and recent chaos at UK airports, we're likely to see more Brits choosing to stay at home over the May bank holiday.
What's mine is yours...except when it comes to bank accounts!
The old proverb ‘what's mine is yours and what's yours is mine' is fading fast from household finances, according to research by online payment provider PayPal.
The flight to quality
Savings inflows to building societies last month were a new March record at £1.26 billion. This compares with inflows of £0.7billion in March 2007, and represents a 70% increase.
Phased rollout for new Faster Payments Service
With one month to go, APACS, the UK payments association, has confirmed plans for the launch of the new Faster Payments Service.
moneysupermarket.com: OFT bank case
Commenting on the UK's biggest banks losing the test case in the High Court, Kevin Mountford, head of current accounts at moneysupermarket.com, said: "After many months of uncertainty, the Office of Fair Trading is now free to intervene on overdraft charges, setting what it feels is a fair rate.
Justice for bank customers
David Kuo, Head of Personal Finance at Fool.co.uk, says: "We are delighted the High Court has ruled that the Office of Fair Trading (OFT) can assess bank charges for fairness.
uSwitch.com: OFT judgement
Simeon Linstead, Head of Personal Finance at uSwitch.com, the independent price comparison and switching service, comments on the judgement today that the Office of Fair Trading (OFT) can apply consumer contract regulations to decide if bank overdraft charges are fair or not.
OFT welcomes High Court ruling on unarranged overdraft charges
The High Court has confirmed the OFT's view that personal current account unarranged overdraft charges can be assessed for fairness.
Judgment on first stage of OFT test case
Seven banks and one building society (the "Banks") are engaged in a High Court test case with the Office of Fair Trading ("OFT") to decide the legality of unauthorised overdraft charges.
IMA calling for £50,000 compensation limit for bank depositors
Responding to the joint HM Treasury, FSA and Bank of England consultation paper on financial stability and depositor protection, the Investment Management Association (IMA) is calling for a £50,000 compensation limit for bank depositors in the interest of restoring confidence amongst the public and market.
Do more to protect customers' personal details, warns FSA
The Financial Services Authority (FSA) is urging firms to change their attitude to data security and do more to help prevent their customers falling victim to identity fraud and other types of financial crime.
Newcastle Building Society to manage accounts for Heritable Bank
Heritable Bank, the UK incorporated bank established over 130 years ago, has switched the administration and back office processing of its current and new savings book to Newcastle Building Society in a planned strategic overhaul.
Members reaffirm Britannia's mutual status
Members of Britannia Building Society have helped to raise more than £43,500 by voting at its Annual General Meeting (AGM).