Banks and building societies will face curbs on dipping into your savings to clear debts, under proposals from industry regulator, the Financial Services Authority (FSA).
Banks and building societies are cutting their savings rates as they focus on attracting new mortgage customers, a financial information group claimed today.
Cash Isa providers will finally have to display the interest rate paid on statements, while they must also speed up transfer times when savers switch accounts.
Hundreds of thousands of savers who opened best-buy accounts over the past two years are now earning well below the current top-paying rates, a MoneySavingExpert.com investigation shows.
Interest rates have been kept on hold today as policymakers maintain their "wait-and-see" approach ahead of government plans to tackle the UK's deficit.
10 June 2010
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