Industry

The UK's banks face an annual bill as high as £7bn to comply with the reforms of the Vickers Commission, according to the panel's final report published today.

The Financial Ombudsman Service (FOS) will not seek to redact the names of businesses when it makes public its final decisions following a client complaint.

The FSA has fined Essex-based mortgage lender Swift 1st Ltd £630,000 for unfair treatment of some customers facing mortgage arrears.

The Financial Ombudsman Service (FOS) this week published its latest complaints data for individual financial businesses. Here are some of the stand-out stats...

Specialist lender Aldermore has launched a 100% LTV Guarantor mortgage to help "disenfranchised" first-time buyers get on the housing ladder.

RBS, HSBC and Barclays ignored warnings from third party advisers before selling on billions of dollars of toxic mortgage debt to Fannie Mae and Freddie Mac in the lead-up to the financial crisis, court papers have alleged.

The US is planning to sue more than a dozen major banks for misrepresenting the quality of mortgages they sold during the housing bubble, the New York Times reports.

Taxpayer-owned banks are set to warn their mortgage customers that they must put their mortgage repayments first, rather than renewing their digital TV subscription or buying a new phone.

Business Secretary Vince Cable has said banking reforms will go ahead despite a row over the speed of the changes.

A mortgage adviser has been banned after being convicted of 13 counts of financial crime, the FSA said today.