The Treasury are preparing to sell off the remaining Bradford & Bingley mortgages to try to recover the last portion of the £20 billion bailout cost from the financial crash of 2008.
The hope is that the sale will make £4 billion and bring the government close to recouping the full cost of the rescue deal of a decade ago.Read More
The Financial Ombudsman Service (FOS) has agreed terms with MPs for a full independent review into the way FOS carries out its business.
The review was called for after a Channel 4 ‘Dispatches’ programme alleged that consumers had not been treated fairly when their appeals against rejections were investigated.Read More
Lloyds Banking Group (LBG) has announced the closure of 49 more branches – 41 with Lloyds and the remaining eight with Halifax – with 1,230 jobs affected.
The closures are the latest in a continuing series which started back in 2013 when more than 600 were spun off to create the new Trustee Savings Bank – now an independent challenger bank, owned by the Spanish Sabadell Group.Read More
Barclays has agreed a $2 billion settlement over claims it fraudulently sold sub-prime mortgage-backed securities in America in the lead-up to the financial crisis of 2008.
The bank did not admit liability in the case which alleged it had mis-led investors over the quality of the loans backing the securities.Read More
An independent review of the Financial Ombudsman Service (FOS) is to examine claims made in the recent Dispatches investigation that some consumers appeals were not dealt with correctly.
But Chief Ombudsman Caroline Waynman has said she is extremely unlikely to re-open any of the cases in question because of ‘strictly limited powers.’Read More
Tony Woolrich (centre) hands over the cheque to Pam Heyburn (left), who made the nomination, and Wendy Parry (right) co-founder of the charity
Charity of the month for March is the Tim Parry Jonathan Ball Peace Foundation – an organisation created in memory of the two Warrington boys who were killed by an IRA bomb left in a rubbish bin in Bridge Street, Warrington, 25 year ago.Read More