Competition watchdog criticised by MPs over bank reform

November 6th, 2016 (No Comments)

Treasury select committee chair accuses Competition and Markets Authority of ‘dropping the catch’ The competition watchdog has been accused of complacency and missing an opportunity to overhaul high street banking, including capping overdraft charges, despite a two-year long investigation. The accusations were levelled at Alasdair Smith, who led the investigation by the Competition and Markets Authority […]

Half a million loans written off after probe into debt collector’s practices

November 6th, 2016 (No Comments)

Half a million people whose payday and car loans were sold to a debt recovery firm will have their loans written off after the financial regulator found failures in the collection process. Motormile Finance UK is paying a total of £154,000 in cash to 2,148 borrowers – equivalent to £69.83 each – and writing off a […]

Liz Truss urged by Bar Council to condemn Brexit ruling backlash

November 5th, 2016 (No Comments)

The Bar Council joins calls for the Government to defend the judiciary’s independence after three judges were heavily criticised. Justice Secretary Liz Truss is being urged to condemn “serious and unjustified attacks on the judiciary” following a High Court ruling over Brexit. The Bar Council has joined calls for the Government to defend the judiciary’s independence after […]

Bank of England left embarrassed by forecast u-turn

November 5th, 2016 (No Comments)

The Bank has binned gloomy post-referendum growth projections and now admits it may have to hike interest rates after all. Let’s be frank, this is hardly the first time the Bank of England has got something wrong. It missed the financial crisis, it misjudged the strength of the housing market in the run-up to it, it underestimated […]

Why Philip Hammond should be getting ready to break up RBS

November 3rd, 2016 (No Comments)

The new series of The Missing is surely the gloomiest television of the year. But it has nothing on the endless saga of RBS, which seems to use the same disturbing time-shift device: whenever there’s a horrible new plot twist, you have to spot whether we’re in 2008, 2011 or today. The crippled bank, still […]

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