Which? is calling on the Competition and Markets Authority (CMA) to ensure its retail banking market investigation goes beyond fixing the basics and commits to testing a range of measures to make the market work for consumers. In its new submission to the CMA’s inquiry into Personal Current Accounts, Which? says that as a minimum the [...]
Which? executive director, Richard Lloyd, said: “This long-awaited move to scrap EU mobile roaming charges would be a huge win for millions of travellers, especially those who have faced expensive charges for data roaming when their mobile hasn’t even left their suitcase. It would put an end to uncertainty about using mobiles abroad and cut bill shocks off at the source. [...]
Which? executive director, Richard Lloyd, said: “Irresponsible behaviour was rife in the banking industry for far too long, so it’s good to see the Governor of the Bank of England calling for stronger penalties for those responsible for scandals like exchange rate rigging. “The banks must also work much harder to win back consumers’ trust, and to [...]
Which? executive director, Richard Lloyd, said: “It’s only right that Deutsche Bank is facing the largest fine of this kind for breaking the rules and hampering the regulator’s investigation. “Rigged markets will ultimately hit people in the pocket, so the regulator must continue to take tough action on those banks who mislead and fail to [...]
Which? executive director Richard Lloyd said: “We’re encouraged that RBS says they will now put customers first and we look forward to seeing better rewards for loyal customers, simpler products and faster service. This is an essential step towards winning back consumer trust in the bank but it’s the start of a long journey and it will be important [...]
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 [...]
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 [...]
New Which? research reveals the best and worst financial companies for customer satisfaction. We asked more than 5,500 members of the public, in four independent surveys, how happy they are with their current account, savings, mortgage or credit card provider. From these responses we gave 19 of the UK’s biggest financial companies an overall score. [...]
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 [...]
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 [...]