UK banks urged to ‘accelerate’ savings rates by financial regulator

FCA tells NatWest, Lloyds, HSBC and Barclays to act more quickly to support consumers after profiteering claims

The City regulator has urged the UK's largest high street banks to accelerate" savings rates following a meeting with chief executives, who admitted they needed to do more to support consumers after claims they were profiteering" from high borrowing rates.

The Financial Conduct Authority (FCA) said it was largely a constructive meeting" with bank bosses on Thursday, but challenged firms where their decision making has been slow".