The FTSE fell to its lowest point since 2005, following a horrific day on Wall Street which saw the DJIA drop 449. On the FTSE for September 18, 2008, Lloyds TSB was flat, while HBOS sank. HSBC and Royal Bank of Scotland lost 4.6 and 10.4 per cent respectively. British bank […]
HSBC is interested in HBOS but does not want to pay for it. Perhaps HBOS should pay HSBC for the “high honor” of HSBC’s interest? According to a report on website www.Telegraph.co.uk, Lloyds TSB Group is in talks to acquire HBOS, Britain’s biggest mortgage lender. The article says the prime minister has […]
The Manchester Evening News (see) reported something we already knew. BARCLAYS, HSBC, Lloyds TSB and NatWest all offer below average customer service, according to the latest Which? Money current account survey. They also continue to offer paltry amounts of interest on credit balances. Just look at our own survey, located to […]
We deviate from our regular HSBC posts to show our readers how UK banks avoid refunding customers’ unfair bank charges. Even though UK regulators said refunds should be issued, customers demanding such refunds are met with stonewalling and refusals. High Street giant Lloyds TSB, which has been accused of overcharging customers £300 million […]
The big four high street banks are lagging behind their internet- and phone-based counterparts on customer service and value for money, the consumer group Which? said today. Barclays, HSBC, Lloyds TSB and NatWest all performed badly in a survey of 4,680 of the consumer organisation’s members, which asked if they were happy with their […]
As recently as one year ago HSBC refused to provide regulators with international banking information. Sources close to many investigations knew or suspected HSBC was aiding terrorism, money laundering, and other related issues. Taking lessons from predatory lender Household International, now owned by HSBC, the bank simply refused to answer questions. […]
THE thorny issue of bank charges moved centre stage last week after three banks caved in to pressure to cut credit card penalties, and the consumer lobby group Which? launched a “fight back” campaign.
Lloyds TSB, HSBC and Barclaycard announced plans to cut late-payment fees from £20 to £12 on their credit cards after consumer […]
A LAW student paid £5,000 by Abbey National after he accused the bank of “excessive” charges yesterday made legal claims against EIGHT others.
Father-of-three Stephen Hone, 29, was charged £2,000 in current account fees in six years. He sued and the bank failed to mount a defence, later agreeing a settlement.
Yesterday he filed similar […]
A NEW inquiry into the supply of banking services to small and medium-sized businesses (SMEs) by the major clearing banks was announced by the Office of Fair Trading (OFT) yesterday. It comes nearly four years after the Competition Commission (CC) found evidence of anti-competitive behaviour among the big four clearing banks that dominate the […]
A crackdown on current account penalty charges could slash the cost of banking for millions of customers. The Office of Fair Trading is telling banks and building societies they must follow guidelines on excessive charging for some services or face a formal investigation. This follows the OFT’s ruling that penalty charges of up […]
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An open letter to HSBC, Knight Vinke and Stephen Green
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.
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