Open Banking legislation has done little to increase competition or reduce costs in the payments market, a major report has revealed.
More than 1,700 businesses have been granted alternative finance options through the Bank Referral Scheme (BRS) after being turned down for traditional business loans, new figures reveal.
Thousands of people who fall victim to scams are to receive new protection, after a number of the UK’s biggest banks agreed to introduce a new code.
MPs have urged businesses to consider vulnerable people’s access to financial services, with talk of the UK becoming a cashless society.
The Bank of England’s (BoE) Monetary Policy Committee (MPC) has unanimously voted to maintain the UK interest rate at 0.75 per cent amid uncertainty about the potential nature and timing of the UK’s withdrawal from the European Union.