Finance

The financial watchdog has delayed its decision on a proposed deadline for reclaiming PPI after its consultation received "a large amount of feedback".

Annuity providers will have to tell savers if they can get a better deal from another provider and how to get it, under proposed new rules outlined by the financial regulator.

Anyone wanting to open a Lifetime ISA will be first made fully aware of how the product works and how much it will cost to make early withdrawals, under proposals by the financial regulator.

The Financial Conduct Authority (FCA) has asked Lloyds Banking Group about the problem of fraud which affects cancelled contactless cards, MoneySavingExpert.com has learned - in the first sign of the regulator taking action since we revealed the contactless card security flaw.

The Financial Conduct Authority (FCA) has today announced it will help make current accounts more open and competitive by developing a range of prompts and alerts for customers to review their bank account choices and overdraft use.

Debt purchase and collections company Motormile Finance UK has agreed to provide redress to more than 500,000 customers by writing off £414 million of debt and making repayments of £154,000 for historic failings in its due diligence and collections process.

Eligibility checks for travel insurance sold as part of packaged bank accounts have improved after the introduction of stricter regulations, according to the financial watchdog, but more must be done to improve checks for other forms of insurance.

Around 750,000 customers with mortgage payment shortfalls have overpaid when trying to clear their arrears, according to the financial watchdog – with those affected due to be reimbursed hundreds of pounds.

The number of complaints lodged against banks and other financial services firms fell by 2.6% between January and June this year compared with the previous six months, according to figures from the financial watchdog – and complaints about current accounts dropped 10%.