Banks and building societies will have to display much clearer information to savers about how their money is protected from next January, under rules announced today by the Financial Services Authority (FSA).
Banks are raising easy access savings rates. Though they are still low historically, the best accounts pay over six times more than the 0.5% base rate.
Banks and building societies have hit savers by cutting rates in line with recent base rate drops. However, they've failed to cut borrowing rates accordingly, a report reveals today.
2 June 2009
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