Banks

Some big UK banks, including HSBC, have failed to hit an extended deadline to clear their backlog of Payment Protection Insurance (PPI) misselling complaints.

Thousands of homeowners are to be warned by taxpayer-owned banks to forget renewing their subscription to Sky TV or buying a new iPhone and instead focus on paying their mortgage.

Santander is still comfortably the worst bank account provider for customer service, according to a poll of MoneySavingExpert.com users, despite claims it had cleaned up its act.

Savers need to be quick to get the market's top easy-access cash Isa, as from Monday it'll be gone.

Taxpayer-backed Lloyds Banking Group has become the latest bank to announce a hit to its financial performance due to compensation payouts for mis-sold payment protection insurance (PPI).

Barclays reported a 33% drop in half-year profits to £2.6 billion after it took a £1 billion hit to cover compensation for customers who were mis-sold payment protection insurance.

The UK arm of Santander said today it had set aside more than half a billion pounds to cover the costs of mis-selling payment protection insurance (PPI) to its customers.

HS

Chancellor George Osborne is today expected to give approval to plans to force banks to erect a protective firewall between their retail and investment arms, in a bid to prevent a repeat of the financial crisis of 2008.

Lloyds Banking Group has said "sorry" for flogging worthless payment protection insurance (PPI) policies and promised a catalogue of measures to provide compensation for victims, in yet another sign of capitulation by banks.