Chancellor of the Exchequer, George Osborne, has revealed that the Government’s credit easing scheme will underwrite banks loans of up to £40 billion to Britain’s smaller businesses. Speaking on BBC 1′s Andrew Marr Show, the Chancellor explained that underwriting the loans will mean that companies with turnover of less than £50 million should be able [...]
The Government yesterday unveiled a new housing strategy which promises to break the current cycle in which “lenders won’t lend, builders can’t build and buyers can’t buy”. At the heart of the strategy are plans for a new-build mortgage indemnity scheme that could give a helping hand to up to 100,000 prospective buyers currently frozen [...]
“Regulatory and legal frameworks are not going to result in the essential economic steps that need to be taken by an increasing number of eurozone countries”, writes British Bankers’ Association chief executive, Angela Knight, on her blog. According to Ms Knight, the core of the crisis is too much government spending; too little early action [...]
The British Bankers’ Association and the Council of Mortgage Lenders are among the 34 organisation that have signed up to “Fighting Fraud Together” a multi-sector initiative launched today. The Government, industry representatives, voluntary groups and law enforcement agencies have agreed to jointly tackle fraud in the UK by: 1. Expanding and extending the successful activities [...]
The British Bankers’ Association (BBA) has responded to EU President José Manuel Barroso’s approval of a financial transaction tax saying it would be a “job loser” and that the costs would be borne by the wider economy. The BBA argues that it would not be a tax on banks, but rather on their customers for [...]
In its final report, the Independent Commission on Banking (ICB) recommends the separation of retail banking and wholesale/investment banking on the basis that structural separation should make it easier and less costly to resolve banks that get into trouble. The report argues that one of the key benefits of separation is that creditors would be [...]
Amid the turmoil of proposed new banking reform and the horrors of the eurozone debt crisis, the British Bankers’ Association (BBA) has devoted time to the development of secure strategies for elderly customers, boldly taking up the challenges that an ageing population presents to the UK’s financial services industry. After a get together yesterday with [...]
“A chorus of concerned bankers and business people is now warning about the consequences to economic growth of further uncosted regulatory change”, the British Bankers’ Association (BBA) warns. The Association is asking policy makers to be “acutely aware” of the dangers of further increasing the cost of banking at a time when government priorities should [...]
The British Bankers’ Association (BBA) has issued the following statement regarding its judicial review of new rules from the Financial Services Authority (FSA) on handling Payment Protection Insurance (PPI) complaints: “The BBA on behalf of its members judicially reviewed the FSA and the FOS regarding the retrospective elements in the proposed FSA rules for handling [...]
The British Bankers’ Association, the Building Societies Association and the UK Cards Association have published a new Lending Code which they say contains enhanced and new provisions for consumers, micro-enterprises and charities. The work is the result of an independent review by Professor Lorne Crerar of the University of Glasgow’s Law School and consultations with [...]
The British Bankers’ Association (BBA) has launched a new website designed to support growing businesses. The site has been developed in conjunction with the UK’s largest High Street banks and provides a range of tools to help firms access the finance they need. Betterbusinessfinance.co.uk takes the form of a one-stop-shop where firms can find impartial [...]
The British Bankers’ Association (BBA) has published new proposals aimed at streamlining the process of debt management and delivering a better and fairer deal for customers. A report compiled with management consultancy firm, Accenture, calls for greater consistency in the way debt advice is provided and in how creditors deal with customers in financial difficulties, [...]
A judicial review launched by the British Bankers’ Association (BBA) begins in the High Court today. The UK’s banks are challenging the Financial Services Authority (FSA) regarding its rules for dealing with complains over payment protection insurance (PPI). Last year, the regulator ordered banks to review their past sales of the insurance and reopen some [...]
The UK’s biggest banks are holding discussions over the £7 billion in bonuses due to be awarded in the New Year, the BBC has reported. The British Bankers Association is said to be hosting the talks which could see bonuses trimmed back to a collective £4 billion, under a joint agreement. The next round of [...]
The British Bankers’ Association (BBA) has responded to government plans, published today, for a levy on banks’ balance sheets by saying that its members are “committed to playing their part in restoring the UK economy”. However, the Association points out that there are over 200 overseas banks operating in the UK, on which the levy [...]
The British Bankers’ Association (BBA) looks set on a collision course with the Financial Services Authority (FSA), having said it will only continue to handle Payment Protection Insurance (PPI) complaints where the assessment of the complaint would not be affected by the outcome a judicial review launched earlier this week. The BBA has filed papers [...]
The British Bankers’ Association (BBA) has filed papers with the High Court asking for a judicial review of some decisions made by the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS), in relation to Payment Protection Insurance (PPI). The BBA is contesting proposed new rules on complaints handling due to be implemented at [...]
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