The FCA outlines proposals to force banks and building societies to provide consumers with clear and timely information Enticing names such as Liquid Gold and Gold Saver on savings accounts that pay some of the worst rates of interest could become a thing of the past under rules proposed by the City watchdog.
In a proposed shake-up of the £700bn savings market,the Financial Conduct Authority (FCA) said accounts with low interest rates should not be given names that are misleading, and that it would pick action against banks and building societies that continue to attain so. Continue reading...
Source: theguardian.com