City watchdog, the Financial Services Authority (FSA), has today announced banks will face stricter stress testing to ensure they can survive a further 4 years of falling economic growth and a 13.3% unemployment rate.
Stress tests were introduced following the financial crisis to ensure that banks had...
Posted to
Finance
on 03-10-2010
Filed under: All Financial News, Economy News, fall, Banking News, Financial Services Authority, FSA, new, unemployment rate, economic growth, stress tests, property prices, survive, stricter
The Financial Services Authority (FSA), has announced a delay on its plans to reform the Payment Protection Insurance (PPI) market.
The City Watchdog said its consultation will be delayed by six weeks due to a heavy amount of criticism from the financial industry.
Under a PPI policy, an agreed sum of...
Posted to
Finance
on 03-10-2010
Filed under: All Financial News, Banking News, Insurance News, Debt News, Financial Services Authority, FSA, Which?, Loan News, mis-sold, criticism, delay, PPI, reforms, consultation, payment protection insurance
City watchdog, the Financial Services Authority (FSA), has granted a banking licence to Metro Bank - which is set to become Britain’s first new high street lender for more than a century.
Metro Bank, which is backed by US billionaire and former Commerce Bank owner Vernon Hill, is planning to open...
Posted to
Finance
on 03-07-2010
Filed under: All Financial News, Banking News, licence, Financial Services Authority, FSA, expansion, Tesco, Virgin Money, London, Metro Bank, new bank, Anthony Thomson, Vernon Hill
The Financial Services Authority (FSA) is to investigate the way Royal Bank of Scotland (RBS) deals with customers’ complaints. The City Watchdog is to examine “certain aspects” of the way the bank deals with complaints but the bank has said it would fully co-operate.
A spokeswoman...
Posted to
Finance
on 02-25-2010
Filed under: All Financial News, Banking News, Royal Bank of Scotland, RBS, Financial Services Authority, FSA, complaints, Financial Ombudsman Service, investigation, customer, watchdog