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Results for banking standards tag

February 2014

Which? response to Sir Richard Lambert’s Banking Standards Review

10 February 2014

Peter Vicary-Smith, Which? group chief executive, said:  “We welcome Sir Richard Lambert’s proposals to bring about a big change in the culture of British banking, so that the customer is once again put first, not bankers. An independent, transparent organisation to start a race to the top in professional banking standards is vital if we […]

Statement: banking standards, Big Change, Personal Finance

January 2014

Overdraft charges impossible to calculate

17 January 2014

Which? calls on the Government to force banks to make it easier to compare the cost of running a current account to increase competition, as our new research reveals consumers can’t calculate unauthorised overdraft charges. We asked consumers to work out the total cost of using an unauthorised overdraft at the 12 biggest banks’ main […]

Press Release: Banking, banking standards, Personal Finance

December 2013

Which? response to the FCA fining Lloyds Banking Group for ‘serious sales incentive failings’

11 December 2013

In response to the FCA fining Lloyds Banking Group for ‘serious sales incentive failings’, Which? executive director, Richard Lloyd, said: “It’s right that in this case the Financial Conduct Authority is taking strong action by imposing their largest fine. This should send a clear message to the banking industry that mis-selling won’t be tolerated and […]

Statement: Banking, banking standards, Big Change

October 2013

Which? response to the bank complaints data issued by the Financial Conduct Authority

16 October 2013

Which? executive director Richard Lloyd said: “Although the number of complaints to banks are falling, which is welcome, the figures are still far too high and appeals to the independent Financial Ombudsman Service continue to increase. “We want banks to deal with complaints swiftly and fairly and to explain what steps they are taking to stop […]

Statement: Banking, banking standards, Big Change, Personal Finance

September 2013

Which? welcomes professional body on banking standards

19 September 2013

Responding to the creation of a professional body on banking standards, chaired by Sir Richard Lambert, Which? chief executive Peter Vicary-Smith said: “We welcome an independent body to instil professional and ethical standards in banking. This should help to repair consumer trust in this essential industry, which has been eroded following scandal after scandal. “Sir Richard Lambert will […]

Statement: Banking, banking standards, Banks, Big Change, customers, Financial services, Personal Finance, Peter Vicary-Smith

Which? response to latest figures on financial complaints

3 September 2013

Responding to the latest figures on financial complaints from the Financial Ombudsman Service, Richard Lloyd, Which? executive director said: “The shockingly high uphold rates on PPI claims exposes just how shoddy the complaints handling is at some of the major high street banks. “Despite their claims, banks are failing to clean up their act. The Financial Conduct […]

Statement: Banking, banking standards, Banks, Consumer, customers, Financial services, Insurance, Money, Payment Protection Insurance, Personal Finance, PPI

August 2013

Cost of PPI scandal now more than double the cost of the Olympics

1 August 2013

Today’s announcement from Lloyds Banking Group of an extra £500 million provision for mis-sold Payment Protection Insurance (PPI) now takes total PPI provisions across all banks to a staggering £18.8 billion – more than double the cost of the Olympic Games (£8.9 billion). Total Lloyds PPI provisions now total £7.275 billion. There has been a noticeable […]

Statement: Banking, banking standards, Banks, Big Change, Money, Payment Protection Insurance, PPI

July 2013

Bank of Ireland failing to keep customers happy

18 July 2013

In the latest biannual survey of bank customer satisfaction, we reveal those that have made it to Which? Recommended Provider status, and those that continue to let their customers down. Which? surveyed 1,631 members of the general public: ·         Bank of Ireland came bottom, with a score of just 41%, scoring just two out of five […]

Press Release: Banking, banking standards, Big Change

June 2013

Banks can’t be trusted to fix themselves

25 June 2013

Following the final report from the Parliamentary Commission into Banking Standards (PCBS), Which? finds around eight in 10 (84%) people think the organisation overseeing professional standards should be independent of the banking industry. Which? has found that, while more than half (53%) are confident the Commission’s recommendations will lead to positive improvements in banks, the […]

Press Release: Banking, banking standards, Big Change

Which? response to the Parliamentary Commission on Banking Standards final report

19 June 2013

Peter Vicary-Smith, Which? chief executive said: “These proposals could signal the start of the big change in banking that consumers have been crying out for, but more will need to be done to transform the toxic culture at the heart of this industry. “We welcome the measures on competition and greater senior accountability. But while the […]

Statement: banking standards, Big Change, Peter Vicary-Smith

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