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FCA Warns Over Treating PPI Claimants Fairly

The Financial Conduct Authority (FCA) has warned Britain’s banks that they must treat people fairly when it comes to claiming compensation for Payment Protection Insurance (PPI). The regulator has warned that if banks do not comply then they will face ‘punitive measures,’ which will include the taking of action against their directors. The warning comes… View Article

Rescue Rules Set Out by Bank of England

The latest ‘Purple Book’ has now been published by the Bank of England, which states how banks should prepare themselves for a crisis. The books aim is to attempt to protect taxpayers from costs should there be a big bank collapse and includes the Bank’s thoughts on regulation as well as the required monies that… View Article

Interest Rates Could Rise Soon

Mark Carney, Bank of England Governor, has said that interest rates are set to rise in the “relatively near term.” It is believed there could be a rise in interest rates as soon as November, as that is when the Monetary Policy Committee is next set to meet. Mr Carney warned again of what he… View Article

Polymer £10 Note Enters Circulation Depicting Novelist Jane Austen

The new polymer £10 has now entered into circulation, bringing back the representation of a woman in addition to the Queen on notes from the Bank of England. The note depicts novelist Jane Austen and replaces the paper £10 note, which displays a portrait of Charles Darwin. Though the new polymer note has now entered… View Article

PPI Complaints Set to Increase

With the launch of the Financial Conduct Authority’s (FCA) PPI campaign at the end of August, compensation claims look set to increase. Payment Protection Insurance complaints, or more commonly known as PPI complaints, have dominated the financial industry for the past seven years. However, though the end is in sight, it looks as though there… View Article

Financial Conduct Authority Soon to Launch PPI Campaign

The Financial Conduct Authority (FCA) is getting ready to launch its Payment Protection Insurance (PPI) campaign ahead of the 2019 deadline. The FCA announced the cut-off date for new PPI claims as 29th August 2019, meaning that anyone who has not already reclaimed their mis-sold PPI by this point will not be able to do… View Article

Use of Debit and Credit Cards Increases

Spring and early summer this year saw an increase in the use of credit and debit cards by consumers within the UK. During the first six months of this year the number of transactions on cards rose by 12%, which UK Finance have claimed is the highest annual growth rate since 2008. Expressions of concern… View Article

Unite Claims RBS to Cut 900 Jobs

Union, Unite, has claimed that Royal Bank of Scotland (RBS) plans to cut 900 technology jobs in an attempt to decrease costs. The union has said that the job cuts are to be made from the bank’s London office by 2020, and will be made up of 650 permanent IT staff and around 230 contractors…. View Article