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The City watchdog the Financial Conduct Authority wants banks to work with their customers to help them find the right deals but says it can't force up rates for easy access savers.
A top City watchdog official has declared it is not his job to set savings rates at banks, as lenders are urged to do more for savers amid accusations they are cheating holders of easy access accounts.
Big banks want social media firms to take accountability for scams taking place on their payment platforms, but that doesn’t mean reimbursing victims. Banks need to take the lead in making victims whole quickly. Big tech and telcos need to kick out the scammers from their platforms.
Seven years after the UK referendum voted in favour of leaving the EU, the two jurisdictions have inked an agreement on financial services co-operation. But the agreement is unlikely to lead to greater regulatory alignment.
Yesterday, the Treasury launched the Mortgage Charter, a set of standards aimed to help those worried by rising interest rates. The charter was implemented after Chancellor Jeremy Hunt met with the country’s principal mortgage lenders, the Financial Conduct Authority (FCA), and UK Finance on Friday.