banks

The Financial Services Authority (FSA) has proposed a new set of rules to ensure banks and building societies check customers are eligible for insurance products before selling them packaged accounts.

A buyers' guide to short-term income protection (IP) and mortgage payment protection insurance (MPPI) has been launched to assist consumer awareness of the products.

The UK's banks face an annual bill as high as £7bn to comply with the reforms of the Vickers Commission, according to the panel's final report published today.

(Updated 2:30pm) Banks are continuing to take the brunt of the latest market sell-off as fresh fears of a European banking crisis emerged on Monday.

The Independent Commission on Banking (ICB)'s plans to ring-fence will have a very limited impact on the UK's economic output, according to Ernst & Young.

RBS, HSBC and Barclays ignored warnings from third party advisers before selling on billions of dollars of toxic mortgage debt to Fannie Mae and Freddie Mac in the lead-up to the financial crisis, court papers have alleged.

A Sky News investigation has uncovered evidence High Street banks deliberately mis-sold interest rate protection, leaving hundreds of firms struggling to meet repayments.

Britain's banks are directly responsible for more than a third of the country's economic slump since September 2008, official figures show.

Just half of people who pay to use banks' current accounts because of the perks offered ever make use of the add ons, a poll has suggested.

Although they will be paid compensation for PPI mis-selling, bank customers still have plenty of gripes left over.