The Financial Services Authority (FSA) is to instruct banks to charge for current accounts, according to a report by consumer group Which?.
Research found charges for going overdrawn for two days per month without permission range from £120 to £900 a year, leading to confusion for consumers.
Customers who stay in credit also lose out through punitive charges levelled on…Continue
Added by Mark Williams on August 21, 2012 at 13:00 — No Comments
The latest FSA rules will cost the City up to £1.4bn a year from now on, according to the regulator's figures.
Regulations consulted on and introduced over the past 12 months by the FSA will create compliance costs of £1.1bn to £1.4bn annually, according to figures compiled by Hargreaves Lansdown.
Added by Mark Williams on November 21, 2011 at 19:30 — No Comments
The FSA has written to the websites highlighting concerns over fair treatment of customers, following a review that found the websites were offering advice without the proper licence.
The letter called into question how the comparison websites were selling insurance and asked that the websites 'think carefully' about…Continue
Added by Mark Williams on June 27, 2011 at 12:30 — No Comments