Banking
Alliance Trust: UK banking sector
Commenting on the current UK banking sector, Tim Gibbens, Global Financials Analyst at Alliance Trust, said: "The key point to take away from the failure of Lehmans is that the Fed is not prepared to prop up every institution which has taken on too much risk or been too highly geared and then run into difficulties.
FSA statement re: HBOS
FSA: Since the beginning of the current extreme difficulties in the financial markets, the Financial Services Authority has worked intensively with all major UK banks to ensure they have credible capital and liquidity plans.
M&S offers foreign currency refund for XL Leisure Group Customers
M&S Money is offering to refund in full foreign currency purchased from M&S by customers who had booked holidays with the XL Leisure Group and are now unable to travel.
It's not all doom and gloom
Michelle Slade, analyst at Moneyfacts.co.uk, comments: "With Lehman Brothers filing for bankruptcy, all we have seen reported are bad news stories. However, there is some glimmer of hope in the personal finance world as in the last few days we have seen some positive moves by providers.
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.
Online banking going mobile
Moneybookers, one of Europe’s largest online payment systems, and Clickatell, leading provider of global mobile messaging solutions, have announced a partnership to offer mobile SMS alerts on transactions for over 5 million eWallet customers.
Banks still lending to small businesses despite credit crunch
British Bankers’ Association (BBA) figures for the main high street banks providing small business services show that over the twelve months to June:
The Co-operative Financial Services launches ‘goodwithmoney'
The Co-operative Financial Services has launched its very own blog at blog.goodwithmoney.co.uk.