Banks with lowest savings rates to face ‘robust action’, warns UK financial watchdog
by Kalyeena Makortoff from World news | The Guardian on (#6DDPB)
FCA lays out 14-point plan to monitor how banks are treating customers following month-long review of savings market
Banks with the lowest savings rates will face robust action" within months if they cannot justify their pricing decisions, the City watchdog warned, as it laid out a 14-point plan amid claims banks are profiteering.
It will ramp up pressure on lenders who have kept easy-access savings rates low, while the cost of mortgages and other loans has soared.
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