FCA says consumers ‘treated unfairly’ over packaged bank accounts

A shock report by the UK financial regulator says thousands of people have had claims for mis-selling packaged bank accounts wrongly rejected or received too little compensation from their bank. The report follows a thematic review on packaged bank accounts by the Financial Conduct Authority (FCA) which found 56% of those who complained received ‘an …

Bank mis-selling – change the law says watchdog

Bank mis-selling – change the law says watchdog

A UK banking watchdog has suggested the law should be changed to prevent future bank mis-selling. The Financial Services Consumer Panel (FSCP) advises the Financial Conduct Authority (FCA) as ‘an independent voice for consumers of financial services’ and they want the duty of care from banks to their customers to be enshrined in law.