Finance

Anyone looking to get a mortgage will have to have their finances scrutinised more closely from tomorrow under new rules , meaning some may find it harder to get a mortgage.

Overdrafts are to be investigated by the Financial Conduct Authority after it found borrowers are paying too much for them.

Thousands of financial advice firms have been warned they face potential fines or bans after a review by the City watchdog found three-quarters were failing to keep their clients properly informed about charges.

The financial regulator is to scrutinise whether competition in the UK's £150bn credit card market is working well for borrowers, in particular those in financial difficulty.

The Financial Conduct Authority (FCA) has promised "tough and decisive action" against payday lenders that don't follow strict new rules, after taking over regulation of the consumer credit market from the Office of Fair Trading (OFT) today.

If Barclays, Lloyds or RBS/NatWest have offered you payment protection insurance (PPI) redress on a loan since 2012, you may be owed £100s more.

The UK's major banks and building societies will be investigated by the Financial Conduct Authority (FCA), following a number of high profile IT failures, it's been announced.

Savers locked into poor-value pensions and investments could be able to leave them penalty-free or be given the option to move to better deals.

Customers who sought investment advice from Santander could be due redress after the bank was fined almost £12.4 million by the City watchdog, which uncovered "serious failings" with the investment advice it gave customers.

The way payday lenders collect debts and deal with borrowers who owe them money will come under the spotlight next month with an official investigation.