FSA tells banks to display depositor protection

New rules, which will come into effect on 31 August, will require the businesses to display posters and stickers in branches and on websites explaining which scheme applies to customers. If customers are using the UK branch of a foreign bank from the European Economic Area (EEA), the posters will have to detail how customers are not covered by the Financial Services Compensation Scheme (FSCS), and specify which national scheme will provide the protection. Andrew Bailey, FSA director of UK banks and building societies, said the new rules were needed to enable customers to feel confiden...