The FSA, OFT and FOS are planning a new joint ‘Consumer Protection Committee’
Posts Tagged ‘banking’
The Consumer Protection Committee
Thursday, March 11th, 2010Virgin, NAB and Santander eye up 318 RBS branches
Sunday, February 7th, 2010Lloyds Launches Britain’s biggest rights issue
Tuesday, November 24th, 2009
In an attempt to keep the Government from gaining a majority share in the company, Lloyds has undergone a UK record-breaking rights issue and offered the shares at nearly a 40% discount. The shares, which should be priced at about 60p are being offered at 37p.
The previous largest rights issue was the £12.5 billion cash raising by HSBC earlier this year after admitting its purchase of US Household International had been a disaster. …read more
Banks set to lose billions if they lose High Court test case
Monday, November 23rd, 2009The Supreme Court is due to give its verdict on the subject of unfair bank charges on Wednesday. If the banks are on the wrong end of the decision then, according to Which?, another Eight million claimants may step forward to reclaim their charges. The banks have already paid back nearly £560 million to many thousands of customers before the cases were frozen when this latest test case was launched. Eight million more claimants will increase this figure astronomically. …read more
Bankers’ bonuses to be regulated by the state
Sunday, November 15th, 2009
According to the Telegraph, with legislation proposed by Alistair Darling set to be enacted before the general election next year, the FSA will get the power to amend bankers’ contracts after the fact to prevent ‘unjustifiable’ bonuses. This effectively means state control over bankers’ wages. A very attractive proposal given recent occurrences in the City. …read more
Financial Secrecy Fortress … Delaware
Tuesday, November 3rd, 2009According to the Tax Justice Network the US ‘First State’ of Delaware topped the list as the most secretive financial jurisdiction. Next in the list came Luxemburg, then Switzerland, then the Cayman Islands, with the UK trailing in fifth place out of a total of 60. …read more
Virgin Bank: Virgin to get full banking licence
Saturday, October 24th, 2009Just when you think that bank lending is over you see that a new player wants to get on the field.
At the moment Virgin Money offers credit cards, savings and investments. But, once FSA approved, they will take deposited money in their own right and offer mortgages. …read more
