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30th of December 2010
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News Tag: ban

July 27, 2010

Lloyds confirms it will cease selling PPI

by Kay Murchie
”Lloyds
Banking giant Lloyds has confirmed it will no longer sell the controversial payment protection insurance (PPI). Lloyds Banking Group, which is 41% owned by the taxpayer, is the first bank to drop PPI sales and the decision will apply to customers of all its brands including the Halifax, Bank of Scotland and the Cheltenham & Gloucester. Under a PPI policy, an agreed ...




June 7, 2010

Nationwide small cash counter withdrawal ban comes into force

by Kay Murchie
’Nationwide
From today, the Nationwide Building Society will attempt to reduce its queues by making customers with cash cards withdrawing less than £100 to use the branch cash machine. The Nationwide said the change, which was announced in April, is essential and the move is aimed at speeding up transactions and freeing up staff time to deal with other ...




May 26, 2010

HSBC and A&L follow Nationwide with counter changes

by Kay Murchie
’HSBC
From 1 July, Alliance & Leicester (A&L;) will attempt to reduce its queues by making customers with cash cards withdrawing less than £300 to use the branch cash machine. The bank, which is to be renamed Santander later this year, said the change will bring the bank brand in line with other banks in the Santander group - including ...




May 21, 2010

Global shares continue to fall over euro debt fears

by Kay Murchie
Global shares continue to fall over euro debt fears
Ongoing fears that the euro zone debt crisis could spread throughout the world sent Asian markets falling today with Japan's Nikkei index down 246 points to 9,784.54. Over the week, the index has lost over 6.5% - its largest weekly drop since January 2009. On Wall Street yesterday, the Dow Jones industrial average slumped 376.36 points (3.6%) to ...




May 19, 2010

Euro sinks further against US dollar

by Kay Murchie
Euro sinks further against US dollar
The euro has fallen against the US dollar and the Japanese yen after Germany banned risky bets on bonds, stocks and credit protection, until March next year. The ban, imposed by the German Government, will apply to the country's 10 most important financial institutions, and is designed to stop the short-selling of euro Government bonds. Short-selling has been blamed for the ...




May 18, 2010

Former RBS investment banker receives lifetime ban

by Kay Murchie
”Former
Johnny Cameron, the former chairman of Royal Bank of Scotland’s (RBS) investment banking business, has been banned from holding an executive position within the financial services industry. The ban, imposed by the Financial Services Authority (FSA), follows an investigation into systems and controls in the global markets division at the bank. Fifty-five-year-old Cameron, who was chairman of its investment banking business ...




May 16, 2010

Competition Commission step nearer to banning PPI

by Kay Murchie
”Competition
The Competition Commission is pressing ahead with its proposal to ban the sale of the controversial payment protection insurance (PPI). Under a PPI policy, an agreed sum of money is paid out each month to fully cover, or cover a percentage of the payment due on your mortgage or loan if you are unable to work, as a result of becoming ...




July 2, 2009

Government announces measures to tackle debt and protect consumers

by Kay Murchie
”Government
A series of measures to assist people facing difficulties with debt as well as the termination of credit card cheques are set to be unveiled by the Government. The Consumer White Paper is set to be launched by Consumer Affairs Minister, Kevin Brennan, at an event in London, held by consumer group Consumer Focus. According to Mr Brennan, the new ...




June 1, 2009

FSA bans lenders from selling PPI

by David Masters
FSA bans lenders from selling PPI
The Financial Services Authority (FSA) has banned lenders from selling payment protection insurance (PPI) alongside unsecured personal loans. Starting today, banks and other loan providers are no longer allowed to sell PPI, the FSA has ruled. “No firms will be selling single premium PPI on unsecured personal loans from today following FSA intervention and action with the industry,” the FSA said. The decision follows ...




January 6, 2009

FSA to lift ban on short selling

by Kay Murchie
”FSA
The Financial Services Authority (FSA) says it will lift a ban on short selling stocks in 34 companies in the UK banking and insurance sector, on 16th January. The ban was introduced as a temporary measure in September of last year, when short selling was blamed for a downward spiral in HBOS’s share price, the driving force behind its hasty merger ...




September 19, 2008

FSA announces temporary ban on short-selling in financial stocks

by Kay Murchie
”FSA
The FTSE 100 index gained 338 points (7%) in early trading today after the Financial Services Authority (FSA) announced a temporary ban on short-selling in financial stocks. Banking stocks, which have suffered heavily this week due to the collapse of US investment bank, Lehman Brothers, rose following the news with RBS up 42%, HBOS up 36%, Lloyds TSB up ...