banks

The Financial Conduct Authority has secured agreements from banks to introduce a payment retry system, which could save consumers £200m a year in late payments.

The Financial Conduct Authority (FCA) is planning a consultation on new complex financial products created by banks and building societies to boost their capital.

Advisers have seen the number of complaints against them soar over the past year, however figures show that more than half of the cases were dropped by the ombudsman.

Sir Mervyn King, the outgoing head of the Bank of England, has called for an end of banker bashing saying it's wrong to "demonise individuals" for the failure of the financial system.

The archbishop of Canterbury, Justin Welby, has accused bankers of having "a culture of entitlement" in a scathing critique of the City's ethical and professional standards.

Recent events in Europe around the liability of depositors in Cyprus bailing out the island's troubled banks have left investors nervous about the security of their own investments in Europe's banks.

CONTRARIAN

An internal review of advised mortgage cases at Royal Bank of Scotland showed just two out of 91 customers received MCOB-compliant advice.

Consumers are missing out on £18.3bn worth of compensation for the mis-selling of payment protection insurance (PPI) policies, according to research by claims management firm EMCAS.

New tighter rules governing the sale of 'packaged accounts' have come into force.