A former Credit Suisse banker has been found guilty of fraud after deceiving investors into buying risky investments that led to $1bn (£610m) of losses.
Sub-prime mortgage borrowers are facing large increases in their monthly mortgage payments if they cannot secure a new deal, according to Moneyfacts.co.uk.
The Intermediary Mortgage Lenders Association (IMLA) has hit out at Lib Dem shadow chancellor Vince Cable for calling the sub-prime mortgage industry unscrupulous over arrears and repossessions.
Thinc Group has apologised for failures when selling and advising on sub-prime mortgages after the firm was yesterday fined £900,000 by the FSA.
Sub-prime and lifetime mortgage consumers are unable to make a distinction between receiving advice or information-only, according to findings published by the FSA today in the second stage of its Mortgage Effectiveness Review .