Thursday, January 31, 2019
Barclays is to move £170bn to Dublin because it “cannot wait any longer” to implement its Brexit contingency plan. The High Court approved on Wednesday Barclay’s Brexit contingency plans, including transferring assets linked to about 5,000 Barclays customers to Dublin. The move is welcome by the rest of the financial sector, who is moving assets […]
Wednesday, January 30, 2019
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are negotiating agreements with the EU financial authorities to enable information sharing in an event of a no-deal Brexit. Plenty of EU national financial regulators from all 27 European countries have welcomed talks with the two UK financial regulators. The goal is to keep […]
Friday, January 25, 2019
Long-term income stagnation and steep rising in housing and transport costs are continuing to increase. With the volatile political environment and Brexit looming, those costs will keep on increasing and will become a bigger burden for people in already vulnerable positions. All of this does not come as a surprise, especially after the number of […]
Wednesday, January 23, 2019
In 2016, the Financial Conduct Authority (FCA) published a comprehensive review of the UK banking culture, focused on whether pay, promotions or any other types of incentives in the banking sector encourage malpractice. The results showcased that every banking business is different and, thus, is not easily compared. Despite this, it was vastly believed that […]
Friday, January 18, 2019
Financial crises are part of life. It doesn’t take a brokerage house crash like the Wall Street crash in 1987 to bring about financial crises. These events are a common occurrence; some are bigger than others with more visible consequences. Since the 2008 financial crisis, quantitative easing helped the banks. Some of the UK financial […]
Tuesday, January 15, 2019
Lloyds Banking Group has been criticised by Labour’s Rachel Reeves on “gaming the system” by making its overdrafts more expensive and complicated for most of its customers. More specifically, Lloyds increased the cost of their overdraft fees at the equivalent of 61% yearly. That is significantly more expensive than borrowing on most credit cards. Back […]
Monday, January 7, 2019
Consumers will be protected from the so-called Loyalty Penalty thanks to proposed new measures. The Competition and Markets Authority (CMA) has responded to a super-complaint lodged by Citizen’s Advice in September with proposals to ensure loyal customers are treated fairly. What is the loyalty penalty? The super-complaint relates to five areas: Cash savings Mortgages Household […]
Monday, January 7, 2019
Trying to get to grips with your finances? We’ve put together a list of our favourite apps to help you budget and save. Squirrel If you find it hard to budget, Squirrel could be a lifesaver. The app keeps your bill money to one side and pays it into your current account the day before […]
Tuesday, January 1, 2019
2019 is set to be a big year for the UK. Here’s our list of useful financial dates for your diary. 1 January – Energy cap Energy regulator Ofgem set a new energy cap of £1,137 a year which means suppliers will have to rethink some of their tariffs. The cap has been put in […]
Wednesday, December 19, 2018
Vulnerable customers will be protected from unfair overdraft charges thanks to proposed new rules from the Financial Conduct Authority (FCA). The FCA is opening a consultation to implement new rules around overdrafts in an effort to protect consumers. New rules will protect vulnerable customers In 2017, firms made an estimated £2.4 billion from overdraft charges […]
