• LEGAL FUTURES Lloyds defends debt collection letters, saying: “Times have changed”

    Views on transparency and clarity “have changed” since Lloyds Bank first started sending letters to debtors under the name of a solicitors’ firm, its group chief executive has told MPs. Lloyds said they were aimed at focusing customers’ minds on the problems they faced. It is the first bank to respond to the request from […]

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  • Report a misleading website to search engines | Government Digital Service

    Government services have been getting a growing number of complaints from people who feel misled by websites which charge for access to public services that are either free or much cheaper when accessed via the official GOV.UK website. Examples include people trying to renew their passport or driving licence, book a driving test or apply […]

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  • Banks urged to warn mortgage borrowers to look at how higher interest rates will affect them | Money | The Observer

    Millions of mortgage borrowers are at risk of financial hardship when the Bank of England begins to raise interest rates, a major study of household debt will report this week. According to the study by the Resolution Foundation, around 2 million UK borrowers who took out risky loans in the years before the financial crash, […]

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  • Why free bank accounts will have to go to spur competition in banking | City A.M.

    But the CMA is also concerned that free in-credit banking – the majority of current account holders don’t pay an obvious fee – may be distorting competition. It could be right. The UK is unusual in having this model. Indeed, the Bank of England’s Andrew Bailey argued in 2012 that free banking is “a dangerous […]

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  • Consumer agency warns of a range of new scams | Irish Examiner

    Almost 300 people have contacted the consumer watchdog since January in relation to a range of scams. The National Consumer Agency has urged unsuspecting consumers that a range of new scams have come to its attention that people need to be vigilant about. Last year, the body received 835 scam-related queries. Of those, 44% were […]

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  • Promoting competition in the UK banking industry | BBA

    The BBA’s position on competition is clear. We support competition and want customers, both retail and business, to have choice both in the bank and the type of banking they want. More competitive markets allow customers to choose from a greater range of products to suit their needs from a wider variety of providers. More […]

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  • BBC News – New pensioners to get independent advice, Treasury says

    Savers are to receive free independent advice when given unfettered access to their pension pots from next year, the government has said.The plan changes an aspect of the major liberalisation of defined contribution pensions unveiled in the Budget.Critics had raised concerns a proposal to make providers give advice could see unsuitable investments recommended.The guidance will […]

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  • International network of Romanian cybercriminals dismantled | Europol

    International network of Romanian cybercriminals dismantled | Europol. The Hague, the Netherlands 17 July 2014 Yesterday, an international organised cybercrime network, composed mostly of Romanian citizens, was successfully taken down in Romania1 and France2 with the support of the European Cybercrime Centre (EC3) at Europol. The cybercrime network is suspected of sophisticated electronic payment crimes […]

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  • BBC News – Is this the death knell for free high street banking?

    The Competition and Markets Authority’s (CMA) decision to launch an inquiry into the UK’s banks may finally get us to the answer – does the present structure work for customers and businesses? Lots of people already say no, and as the CMA points out levels of satisfaction in the sector are below 60%. Many businesses […]

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  • MPs demand bank explanation over fake letters | Left Foot Forward

    Nicholas Wilson, who describes himself as an activist and whistleblower and is currently taking out a private prosecution against HSBC for conspiracy to defraud, has regularly called out the bank for using a firm called DG Solicitors to pressure customers. An example letter can be found on his website.Late in June, Wilson wrote a blog […]

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