Banking

FSA to explore issue of consumer responsibility

The Financial Services Authority (FSA) has launched a discussion paper on consumer responsibility to explore what steps the regulator or others could take to help consumers understand and protect their own best interests more effectively.

Newcastle Building Society announces Capital Issue

Newcastle Building Society has announced it has boosted its capital through the issue of £10m of Permanent Interest Bearing Shares (PIBS). The PIBS have been issued on a private basis.

(Almost) ZIRP, will it work?

The US Federal Reserve has cut its benchmark interest rate to between 0% and 0.25% in an effort to boost credit growth and to deter deflation.

Sterling weakens to €1.0595 to £1, but airports offer below parity

Commenting on the Sterling rate, Stephen Heath, Chief Executive of FairFX.com, said: "Sterling has fallen to just €1.0595 to £1, and is at its weakest rate ever today. The question is now when, not if, we see the Pound fall to just €1 to £1, and perhaps slip even lower.

Brits turn to family for financial advice

New research from Halifax Financial Services shows it is family members that UK consumers have turned to for financial advice in 2008. 53% of people make family and friend their first port of call for financial advice.

LIBOR gets enhanced governance and scrutiny procedures

Further enhancements to the current system for producing, checking and verifying the global interest rate benchmark are announced today by the British Bankers' Association.

Fairinvestment.co.uk launches bank charges calculator

If you think you may be a victim of unfair bank charges, you will want to claim your money back, but may not know how much you might actually entitled to, and that's where Fairinvestment.co.uk can help!

Web browser breakdown ups chances of ID fraud

Further to Microsoft's Internet Explorer going down, Owen Roberts, Identity Protection Expert at Callcredit comments: "The problem with Microsoft's Internet Explorer could potentially allow criminals access to people's computers and their passwords.

Consumers ‘losing out’ by going direct

Significant numbers of consumers are losing out by opting to go direct to providers of financial services, mortgages and loan products, rather than seeking impartial advice from professional advisers.

How low will it go? Sterling fall to €1.1096 to £1

Commenting on the Pound falling to just €1.1096 to £1, Stephen Heath, Chief executive of FairFX.com, said: "For the first time since the launch of the Euro, Sterling has fallen below €1.11 to £1, and at €1.1096 to £1 it is at its weakest position.

Halifax launches Reward Current Account

Halifax has announced the launch of a new current account, the Halifax Reward Current Account, which replaces the group's existing interest (credit/debit) and fee structure with a new approach based on simplicity and an even better deal for customers.