UK Finance News

Mortgage lender Liverpool Victoria bank have been fined by the financial governing body FSA, for adding payment protection insurance to customer loans without asking if it is wanted.
FSA investigators found  Liverpool Victoria bank guilty of adding the premiums for the protection plan to quotes when customers applied for a loan. The company also put undue [...]

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Following Tesco’s buying out of RBS from joint project Tesco Personal Finance, the supermarket giant has announced plans to take on the high street banks, with it’s own full service retail bank.
It is the latest move for the supermarket chain to break away from its core grocery market, which it dominates with a 30% share. [...]

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Tesco is close to completing a deal to buy out Royal Bank Of Scotland’s stake in their joint venture, Tesco Personal Finance.
The deal is expected to be worth £1bn and has been under negotiation since April when the bank announced that it would be putting up for sale some of it’s assets to bolster it’s [...]

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UK criminals are keeping one step ahead of credit card technology despite the introduction of Chip and Pin which was designed to give the customer more security.
Figures for credit and debit card fraud last year, rose to an incredible £535million, with criminals using new methods of committing credit card crime.
The skimming of cards being used [...]

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The million policyholders that lost half of their investment with Equitable Life in 2001, when the company came to the brink of collapse, have been given some hope that they will be at last be able to seek compensation for their losses as a report from the Parliamentary Ombudsman Ann Abraham, is published.
The ombudsman found [...]

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