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Tag Archive: increase

  • FSA: new complaints handling rules and FOS award limit

    The Financial Services Authority (FSA) has confirmed new complaints handling rules which include: The abolition of the “two-stage” complaints handling rule to make sure firms resolve complaints fairly and do not dismiss them the first time, requiring persistence from the … Read more »

  • CIFAS: mortgage fraud up 18%

    Mortgage fraud increased by 18% in 2010, with the surge largely driven by a 27% rise in the number of application frauds exposed, compared with 2009. According to new figures from CIFAS, the bulk of the increase occurred in the … Read more »

  • OFT urges underwriting fees revolt

    The Office of Fair Trading (OFT) is urging companies and institutional shareholders to challenge the level of equity underwriting fees charged by investment banks, having found that the market lacks effective competition. In a recent study, the watchdog discovered a … Read more »

  • Improvements for credit card borrowers imminent

    The UK Cards Association is reminding Britons with credit card debt that from the beginning of the New Year, they can expect to see a number of beneficial changes. For example, the most expensive debt on a credit card will … Read more »

  • FSCS deposit limit raised to £85,000

    The Financial Services Authority (FSA) has confirmed that the Financial Services Compensation Scheme’s (FSCS) deposit limit will increase from £50,000 to £85,000 per person, per authorised firm, from 31st December 2010. The change brings the UK into line with the … Read more »

  • Sharp increase in direct debit fraud

    So far this year, 26,000 Britons have discovered that fraudsters have set up regular direct debit payments from their bank accounts, according to research from insurer, LV=. Direct debit fraud occurs when a criminal sets up a payment from a … Read more »

  • Barclays leads the way in overdraft rate rises

    Twenty-six per cent of UK current accounts have seen increases in their authorised overdraft rates in the last 18 months, despite the base rate being pinned at 0.5%. According to research from, Barclays Additions Active customers have been worst … Read more »

  • Goldman Sachs Q1 profit up 91%

    Goldman Sachs has posted net profit of $3.46 billion for the first three months of 2010, representing a 91% increase on the same period of 2009. The group’s revenues rose 36% on a year earlier, to $12.8 billion. However, profit … Read more »

  • Rates soar on small personal loans is suggesting that banks are trying to kill-off the small personal loans market. According to the financial website, borrowers looking for a personal loan of less than £5,000 are facing interest rate hikes of up to 130% since 2006, … Read more »

  • Surge in ID fraud expected

    The UK’s leading credit referencing agency is warning that identity (ID) fraud is likely to increase this year. According to Experian, the number of ID fraud victims rose by 20% in 2009, compared with a year earlier. The list of … Read more »

  • FOS reports 18% rise in consumer complaints

    The Financial Ombudsman Service (FOS) has released its six-monthly data on consumer complaints against the UK’s banks, insurance companies and investment firms. Between 1st July and 31st December 2009, the watchdog received 82,136 new complaints – an increase of 18% … Read more »

  • ISA facts and figures from Halifax

    Halifax has been reflecting on a decade of Individual Savings Accounts (ISAs) to reported that 37% of UK households now have one of the tax-free savings accounts. ISAs were introduced in 1999 to replace TESSAs and PEPs and not surprisingly, … Read more »

  • Credit card rates at 12-year high

    Credit card interest rates have reached a 12-year high, according to Research from the financial website shows rates for borrowers on plastic beginning to decline at the end of the 1990s when competition became keener, falling to their lowest … Read more »

  • Identity fraud up 32%

    CIFAS has published an analysis of 2009 fraud trends in which it reports a 32% rise in identity fraud, compared to a year earlier. This type of fraud involves the use of a stolen or false identity to obtain goods … Read more »

  • Identity theft up 12%

    A new report from claims that there has been a significant increase in applications for credit by fraudsters, since the beginning of the year. Using data derived from National Hunter, a fraud prevention database operated by Experian, the firm … Read more »

  • Lloyds pledges support for 300,000 business start-ups

    Lloyds Banking Group has promised to help 300,000 of the UK’s small and medium-sized business start-ups by 2012. Under a new charter, SMEs should see increased access to finance and more competitive pricing. Following continued criticism of the amount lent … Read more »

  • Bank of Israel raises interest rates

    The Bank of Israel has announced that it is increasing the interest rate by 25 basis points to 0.75%. It is the lowest the Israeli rate has been since February when the bank cut rates by 25 basis points to … Read more »

  • Rise in students unable to meet loan repayments

    The burden of student debt in England is increasing with latest figures from the Student Loan Company showing that the number of graduates deferring loan payments increased by 160,000 in 2008/09. Poor job prospects resulting from the credit crisis are … Read more »

  • Personal loan rates nudge up

    Latest research from uSwitch confirms that unsecured lending rates are continuing to rise. The comparison website reports that seven providers hiked rates by 1% for new customers in the past four weeks, taking the average rate to 9.07%. According to … Read more »