Fit & proper?

[Indebted]

Are there any controls over whether banks are "fit and proper" to make loans and take savers' funds? I ask this because it has come to my attention that my mortgagor has a number of unsettled CCJs registered against it. They probably would not be allowed to own a Premier League football club, but they are free to hold millions of ££££ of depositors' cash in their coffers.

It seems strange to me. Can anyone enlighten me on where to find out about the rules governing banks and how they behave? Is the BBA really independent?

Ciao.

[Caspar]

Re: Fit & proper?

Just read a thread where Nat West has 67 unsatisfied CCJ's against it, so you're obviously not the only one

[TUTTSI]

Re: Fit & proper?

I am not sure about being able to own a Premier League Football clubs if they have CCJ's - as many of them are in deep financial debt tbvh and probably have many CCJ's.

Are there any controls over whether banks are "fit and proper" to make loans and take savers' funds? I ask this because it has come to my attention that my mortgagor has a number of unsettled CCJs registered against it. They probably would not be allowed to own a Premier League football club, but they are free to hold millions of ££££ of depositors' cash in their coffers.

It seems strange to me. Can anyone enlighten me on where to find out about the rules governing banks and how they behave? Is the BBA really independent?

Ciao.

[pompeyfaith]

Re: Fit & proper?

Is the BBA really independent?

The BBA was never,has never been and was never meant to be independent.

They where set up by the banks to represent the banks

[Tools]

Re: Fit & proper?

Hi Indebted, can you tell me which bank it is you are talking about please?