• Bank of America reaches record $17bn settlement over questionable mortgages | Business | theguardian.com

    Bank of America has reached a record settlement of nearly $17bn (£10.2bn) to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter have said. One official, who spoke with AP on condition of anonymity because the announcement was not scheduled until […]

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  • ICO raids call centre ‘connected to spam text operation’

    The ICO has today raided a claims management call centre in Llanelli thought to be connected to a spam text operation.The business is believed to be linked to as many as six million nuisance text messages. Documents and a computer server were seized and removed for further examination. The ICO will now consider whether an […]

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  • Ombudsman writes £100,000 off on ‘irresponsible’ loan secured on Glasgow couple’s home

    Glasgow couple who borrowed £20,000 on a APR of 16.2 per cent over 40 years – at a total cost of almost £124,000 – have been successful in arguing that their lender failed to undertake a proper affordability check, had overridden its own lending criteria, and irresponsibly sold an unaffordable product to the couple, which […]

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  • Men On Trial For Romance Scam | Get Safe Online

    Four men have appeared in Winchester Crown Court in connection with an alleged romance scam which defrauded vulnerable women out of £220,000. One victim lost £174,000. The women responded to a fake profile on the match.com website of an ‘attractive middle aged man’, following which a relationship developed and money was requested. The non-existent suitor, […]

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  • Payday loan firms ‘bombarding vulnerable consumers’ – BT

    People in debt are being plagued by nuisance calls from payday loan companies offering them even more credit, new research from StepChange Debt Charity has revealed. A survey of people contacting the charity’s helpline found that almost a third (32%) were receiving unsolicited marketing calls from payday loan firms. On average, these clients were contacted […]

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  • BBC News – Domestic abuse crime considered by ministers

    A new crime of domestic abuse could be created under plans being considered by ministers. Home Secretary Theresa May is consulting on creating the offence in England and Wales as part of attempts to improve police performance. Existing law already covers coercive and controlling behaviour – but it does not explicitly apply to relationships. Earlier […]

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  • Online pawnbroker ad banned for encouraging ‘frivolous’ borrowing | Money | theguardian.com

    An ad for an online pawnbroker has been banned for encouraging “frivolous” spending of borrowed money when it suggested using a loan to buy a Caribbean holiday. The television ad for Borro.com featured a couple talking about how the money could do “so many amazing things” such as “help start a business, pay school fees” […]

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  • Customer charged £9,000 commission on pension in just one year | Mail Online

    A bank adviser at HSBC took 15 per cent of a customer’s pension payments in commission in just one year, it was revealed yesterday – laying bare the scale of rip-off pensions sold by High Street banks. The complaint by a customer was exposed by the Financial Ombudsman Service in a ruling. It showed how the […]

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  • REVEALED: Top ten list of wacky Freedom of Information requests to councils | Derby Telegraph

    EMERGENCY plans to cope with a dragon attack or meteor shower, pet exorcisms and frozen animals are just some of the bizarre topics councils have been quizzed on by residents. A top 10 list of unusual Freedom of Information (FoI) requests submitted to councils, compiled by the Local Government Association, reveals the weird and wacky […]

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  • What motive lies behind the ‘top 10 wacky FOI requests’ press release? | David Higgerson

    Newsrooms like nothing more than quirky lists during the long, often slow news, month of August, so a well-time press release from the Local Government Association revealing a ‘top 10′ of ‘wacky’ FOI requests got considerable space last week. A PR success for the LGA then, but what will have prompted their press release? The […]

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