Which? has urged banks to streamline their payment protection insurance (PPI) claim process or risk exposing customers to claims management companies, after just a quarter of the promised amount of redress was paid out in 2011.
A "sophisticated" fraudster who headed up a criminal gang has been jailed for seven years for defrauding high street banks out of almost £8m through multiple fraudulent mortgage applications.
Tesco Bank's chief executive, Benny Higgins, has suggested that its long-anticipated launch into the mortgage market will happen by as early as April this year.
A former magistrate found guilty of a £360,000 mortgage fraud has been spared a jail sentence after a judge ruled her behaviour "wholly uncharacteristic".
The ongoing compliance costs of the Mortgage Market Review (MMR) proposals will cost the industry anything between £47m and £170m a year, with one-off implementation costs between £40m and £60m, according to the FSA.
The FSA today proposes to ban non-advised mortgage sales, although all but the 'vulnerable' or those accessing higher-risk products will be able to opt-out of advice or reject it and proceed on an execution-only basis.
Official government figures have revealed that the average annual salary earned by financial and insurance brokers this year has increased 17.3% on 2010 to £54,924.
Chancellor George Osborne has not extended the Stamp Duty holiday for first-time buyers, with the Autumn Statement revealing the government believes it has proved "ineffective".
Nationwide figures have today revealed average UK house prices rose by 0.4% in November and 1.6% on a year ago, adding to the mixed picture across the major house price indices.
Three-quarters of consumers believe the FSA failed to stand up to the banks in the run-up to the financial crisis and has not done enough to help consumers, according to Which?.