Banking News
Yorkshire Building Society encourages members to act!
Ahead of the Government’s proposal to use unclaimed assets in bank and building society accounts for good / worthy causes, Yorkshire Building Society is actively trying to encourage its members to act and avoid their money being grouped with these forgotten funds.
Financial stability and depositor protection
A consultation on proposals for strengthening the current framework for financial stability and protecting depositors has been launched by the Chancellor of the Exchequer.
New standards for IVA providers come into force
A new set of standards to help people resolve their debt difficulties through Individual Voluntary Arrangements (IVAs) will come into force on Friday, following an agreement struck today between IVA providers and the credit industry.
FSA's consumer website revamped
As the Financial Services Authority (FSA) warns today in its Financial Risk Outlook that we could all be facing more difficult economic conditions this year, it has also relaunched its dedicated consumer website to help people manage their money.
Internet bill payments almost double
Alliance & Leicester Commercial Bank has announced that it has seen a significant increase in the number of consumers choosing to pay their bills online over the last 12 months.
Bank robbery no longer pays
Last year saw the lowest ever number of bank robberies recorded in the UK, according to figures published today by the British Bankers’ Association.
Single Euro Payments Area Credit Transfer Scheme goes live
From today (28 January) the new SEPA Credit Transfer (SCT) Scheme will enable euro credit transfers to be made within a maximum of three days, and without any deductions from the principal amount.
Over £1bn in compensation paid to consumers since FSCS set up
Consumers have benefited from more than £1bn in compensation from the UK’s compensation scheme of last resort since the Financial Services Compensation Scheme (FSCS) was set up.
Loss for banks in OFT court case could be bad news for consumers
As one of the most important court cases to hit the financial industry in years finally begins, the Office of Fair Trading’s (OFT) court case against eight leading UK banks into unfair bank overdraft charges has been widely publicised in the media as a battle between consumers fighting for their rights and unfair actions by leading banks.
Nationwide offers Legal & General's investment and protection products
From Tuesday 5th February 2008, Nationwide Building Society offers an ethical trust and a range of new protection and investment products from Legal & General to complement its existing offers.
Building Societies smash savings records
Building societies attracted a record £16.1 billion of savings inflows in 2007, according to the Buildings Societies Association (BSA).
Legal success for the Cheshire
Cheshire Building Society was successful in its legal claim against professional advisers in relation to an external fraud which occurred in 2005.
Financial services sector tops UK growth tables
The UK’s financial industry has grown faster than any other UK business sector over the past ten years, official figures report.
Cheshire Winter Warmer appeal success
Cheshire Building Society, in conjunction with Manchester Evening News, has raised £17,043 through its “Winter Warmer Appeal” during December.
Personal finance should be taught in schools
Research from the Association of Investment Companies (AIC) among parents and teachers has revealed that nine out of ten parents and teachers (93% of both groups) think that personal finance education should be taught at school, and of these, half (50%) think it should be mandatory.