Banking

The new system of financial regulation must help consumers by promoting competition and better communication so it does not repeat the "shortcomings" of the Financial Services Authority (FSA), a committee of MPs said today.

New switching bribes mean for the first time five major providers have hardcore promotions vying for the coveted best-buy crown.

Bank customers who were mis-sold paid-for current accounts can reclaim any money they've shelled out, watchdogs say.

Sir Richard Branson has vowed to improve British banking for customers during his visit to the first newly re-branded branch of Virgin Money.

One in seven Britons has turned to a pricey payday loan or sky-high unauthorised overdraft to cover rent or mortgage costs in the last year, a worrying study from charity Shelter has found.

Most money transfers will go through within one working day from this week, under a new EU directive.

The Co-operative Bank is suspending interest charges on agreed overdrafts for the next three months.

There has been a "seismic collapse" of private sector pensions and fresh incentives are needed to boost retirement savings as auto-enrolment nears, a report warned today.

The "bleak" financial situation faced by the younger generation was laid bare today, as official figures showed that more people aged 25 to 34 are turning to a type of insolvency known as a debt relief order (DRO) than any other age group.