Banks

Recurring payments now easier to cancel

Consumers will be able to cancel regular payments from their bank account by contacting their card provider as part of a move to simplify the banking system and better protect consumers, the Financial Conduct Authority (FCA) has said.

Bank lending falls by £300m in Q1

Net lending by banks under the Government's Funding for Lending Scheme fell by £0.3 billion in the first quarter of the year, data from the Bank of England shows

Resist pressure to add to QE, warns BCC

The chief economist at the British Chambers of Commerce has urged the Bank of England's Monetary Policy Committee to resist pressures to add to its quantitative easing programme.

FSA replaced by new financial regulators

The Financial Services Authority (FSA) has been replaced by two new regulatory bodies, which will aim to monitor financial institutions and better protect consumers.

Banking reform plans announced by Chancellor

UK banks will be forced to separate everyday high-street and retail banking operations from their investment arms under the Banking Reform Bill, announced by the Chancellor George Osborne.

Banks mis-sold 90 per cent of products to small businesses, says FSA

The Financial Services Authority (FSA) has confirmed that four major UK banks will start a full review into the mis-selling of products to small businesses, after it found that nine out of 10 sales did not meet regulatory requirements.

Funding for lending scheme fails to boost lending to businesses

Lending to small and medium sized enterprises (SMEs) by banks and building societies contracted in the three months to November 2012, despite Government efforts to boost business lending.

Government backs alternative business lenders with £55 million

Small and medium sized businesses and sole traders are to benefit from £55 million of Government funding being channelled through non-bank lenders.

Funding for Lending Scheme crawls towards target

Five of the UK's six largest lenders have joined the Bank of England's (BoE's) Funding for Lending Scheme (FLS) designed to increase lending to households and businesses.

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