A wide-ranging shake-up of the mortgage market was unveiled by the financial services regulator today, aiming to prevent a return of irresponsible lending and stop borrowers taking out unaffordable deals.
Banks could be made to display clearer information on how much compensation savers could claim in the event of an institution failing, under new proposals.
Many high street banks and building societies are offering poor advice and recommending inappropriate investments, an undercover investigation from lobby group Which? concludes today.
Payment protection insurance (PPI) mis-selling victims received a whopping £239 million redress in August, according to latest figures from the City watchdog.
Home repairs group HomeServe says it has halted telephone sales and will retrain nearly 500 call centre staff, after discovering possible mis-selling of its household emergency policies.
31 October 2011
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