Britain’s financial regulator – the Financial Conduct Authority (FCA) – has announced proposals to ban ‘rip-off’ fees for unarranged overdrafts in a crackdown on the way banks levy their charges.
Blog Category: Personal Finance
A lot is due to happen in 2019 – not least the PPI claims deadline on August 29th – covering everything from how much tax you’re charged, what you’re paid in benefits and how to switch mobile phone providers.
Britain’s financial regulator has fined Santander £32.8 million for failings in its ‘flawed’ probate and bereavement services.
PPI compensation breaks the £33 billion barrier
The total amount of compensation paid for the mis-selling of PPI by Britain’s financial industry has broken the £33 billion barrier.
Seven of Britain’s high street banks and building societies have passed the latest Bank Of England stress test and proved they have the resources to survive a ‘disorderly Brexit’ scenario should it happen.
New security measures being introduced by banks could give online shoppers problems in the run-up to Christmas.
Britain’s ‘bad bank’ has set aside another £44.1 million to pay out future successful PPI claims.
Payouts continue to rise
Latest PPI figures released by the Financial Conduct Authority (FCA) revealed that lenders have paid £32.9 billion between January 2011 and September of this year.
A £150 million increase in its PPI compensation provision has pushed high street banking group CYBG into a £145 million loss on the year.
A special investigation has been ordered into the treatment of ‘financially vulnerable’ customers by Britain’s banks and other financial institutions.