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LONDON (Reuters) - British banks faced fresh criticism on Monday for the savings rates they offer to cash-strapped customers, in the latest intervention by parliament's influential Treasury Select Committee.
An analysis by the MoS of the five biggest banks and Nationwide, the UK's largest building society, found they scooped an extra £8 billion this way last year.
RUTH SUNDERLAND: While borrowers are hit with spiralling extra payments, banks and building societies are increasing the profit margin they gouge from customers.
Some people have done quite well regardless of the rising cost of home loans: the bosses of the big UK mortgage lenders.
MPs said that lenders must “up their game” and pass on higher rates to savers as bank bosses responded to an inquiry on the “measly” rates on offer. The