Bank of England’s Adam Posen criticises lack of bank lending
Bank of England Monetary Policy Committee member Adam Posen has criticised banks for not lending enough money to small and medium sized businesses.He questioned if bankers were “reluctant, risk-averse jerks”, or if there was a more fundamental problem. He also dismissed banks’ defence that there was little demand for new loans. He said banks had [...]
March 12, 2012
Tags: bank lending, Bank of England, bankers, banks, business finance, Credit Crunch, finances, Loan calculator Posted in: Bank Lending, Bank of England, Bankers, Banks, Business Finance, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized 
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RBS Fred’s knighthood shredded
Former RBS boss Fred Goodwin has been stripped of his knighthood.Mr Goodwin, who was heavily criticised over his role in the bank’s collapse in 2008, was given the honour by the Labour government in 2004. The Queen cancelled and annulled the title following Whitehall advice. Prime Minister David Cameron said it was the “right decision”. [...]
March 9, 2012
Tags: bankers, banks, Credit Crunch, Loan calculator, nationalisation, sub prime loans, unemployment Posted in: Bankers, Banks, Financial Services, Lenders, Loans Calculators, Uncategorized, Unemployment, nationalisation No Comments
Cancer charity loses income as bank ends credit card deals
Halifax and Bank of Scotland charity credit cards will be withdrawn from the end of February.The nationalised Lloyds Banking Group which manages the card schemes says they are no longer a cost-effective way of donating to charity. In 2009 the cards raised around £1.1 million for Cancer Research UK, the NSPCC and the Scottish SPCA. [...]
March 7, 2012
Tags: credit cards, Credit Companies, Credit Crunch, Loan calculator, nationalisation, UK loans rates Posted in: Bankers, Banks, Credit Cards, Credit Companies, Credit Crunch, Finance, Lenders, Uncategorized, nationalisation No Comments
Credit companies who send text messages may be fined
Credit companies face raids and fines of up to £500,000 for sending unsolicited text messages about credit or compensation.The Information Commissioner’s Office (ICO) said tackling the issue was a “high priority”. Typical messages claim recipients are entitled to money, promise to write off debts or find a loan, or suggest accident compensation can be claimed. [...]
March 5, 2012
Tags: borrowing, Credit Companies, Credit Crunch, Loan calculator, loans rates, sub prime loans Posted in: Borrowing Costs, Credit Cards, Credit Companies, Credit Crunch, Finance, Lenders, Sub Prime Loans, Uncategorized No Comments
Outlook for global labour market worsens officials warn
The outlook for the global labour market has worsened from last year the International Labour Organization (ILO) warn.It called the situation an “urgent challenge” and said governments needed to create 600 million jobs over the next decade. The ILO said it was more pessimistic because of the weaker global economy. It added that globally some [...]
March 1, 2012
Tags: bad debts, Credit Crunch, debt management plans, Interest Rates, Loan calculator, uk recession, unemployment Posted in: Credit Crunch, Finance, Loans Calculators, Payday Loans, Uncategorized, Unemployment No Comments
Farepak- MP urges quicker compensation
An MP has urged the government to speed up the compensation process for Farepak families after it emerged 200 customers have died before receiving money.Around 122,000 customers made claims worth £38 million when the Christmas hamper firm went into administration in 2006. The information came in a letter from Farepak’s liquidators to Mike Weir, the [...]
February 28, 2012
Tags: bad debts, Bankrupcy, Credit Crunch, Loan calculator, UK loans rates Posted in: Bankrupcy, Credit Crunch, Debt Consolidation, Financial Services, Loans Calculators, Uncategorized No Comments
Wonga stops targeting loans at students after protests
Loan company Wonga has removed pages from its website after it was branded “incredibly irresponsible” for targeting students.However the lender said it would still accept applications for short term loans from working students. The National Union of Students (NUS) said it was wrong for the company to push the loans – with a typical APR [...]
February 17, 2012
Tags: bank lending, Credit Crunch, debt management plans, personal loans, sub prime loans Posted in: Bank Lending, Borrowing Costs, Debt Management, Interest Rates, Lenders, Loans Calculators, Loans Rates, Payday Loans, Sub Prime Loans, Uncategorized No Comments
Scottish child poverty hotspots revealed
The worst areas for child poverty in Scotland have been mapped for the first time. Action is needed to tackle “shameful” levels of child poverty in parts of Scotland, campaigners have urged. It comes as figures suggest 13 Scottish councils have wards where more than 30% of children live in pockets of severe poverty. The [...]
February 13, 2012
Tags: bad debts, borrowing, Credit Crunch, debt management plans, Loan calculator, sub prime loans Posted in: Bankrupcy, Credit Crunch, Debt Management, Finance, Interest Rates, Loans Calculators, Sub Prime Loans, Uncategorized No Comments
Consumers still looking to cut debts say bankers
People are continuing to pay down their debts- despite High Street stores offering discounts to tempt shoppers, according to figures from the British Bankers’ Association (BBA).Retail sales grew last year but there was little demand for loans and overdrafts, the BBA said. Credit card borrowing slightly increased, but mainly as a result of the interest [...]
February 10, 2012
Tags: bank lending, bankers, Credit Crunch, Debt Consolidation, home loans, Loan calculator, sub prime loans Posted in: Bank Lending, Bankers, Business Finance, Credit Crunch, Finance, Lenders, Loans Calculators, Uncategorized No Comments
PPI payouts in 2011 top £1 billion finds FSA
More than £1 billion was paid in compensation in the first 10 months of last year to people who were mis-sold payment protection insurance (PPI) the financial services watchdog show.PPI was supposed to repay people’s loans if their income dropped because they fell ill or lost their jobs, but thousands were mis-sold the policies. The [...]
February 6, 2012
Tags: borrowing, consolidate debt loans, credit cards, Credit Crunch, Loan calculator, personal loans, refinancing rates, sub prime loans Posted in: Banks, Credit Crunch, Finance, Financial Services, Sub Prime Loans, Uncategorized No Comments
