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Loans News

Listing 405 articles over 41 pages

Alistair Darling Announces New Banking Watchdog

Alistair Darling has today announced more detail regarding his attempt to hand power back to UK businesses that are refused credit through the UK banking system. He has also announced plans to reduce bonuses already agreed at Lloyds bank and Royal Bank of Scotland if executives miss new lending targets. But are these two issues really credible? While there is no doubt that many businesses reacted with relief when the UK government announced plans for an appeals system regarding failed loan applications, what exactly can the government do?

Royal Bank Of Scotland Fined £28.6 Million In Competition Law Breach

Royal Bank of Scotland (RBS) has been fined £28.6 million by the Office of Fair Trading (OFT) after it was revealed the company shared confidential details about the pricing of its loan service with staff at Barclays bank. Quite why staff from Royal Bank of Scotland would want to share confidential information with competitor Barclays bank is a mystery but the issue came to light after Barclays bank blew the whistle and informed the OFT.

Should UK Consumers Be Able To Appeal Against Loan Rejections?

Lord Mandelson's plans to allow UK businesses to formally appeal against loan rejections from UK banks has opened a potential can of worms for the UK authorities. If UK businesses are able to appeal against loan rejections, and potentially see these initial decisions reversed, should UK consumers be given the same rights of appeal regarding loan rejections?

Is Lord Mandelson A Friend Of UK Small Businesses?

Despite the fact that many UK small businesses have been starved to death over the last few months while the UK government uses public funding to bail out larger conglomerates, Lord Mandelson has today defended the right of UK small business owners to appeal against loan rejections. This is a further development from last weeks announcement that the government is looking to set up a statutory right for business owners to appeal against loan rejections by UK banks.

Royal Bank Of Scotland In £15.8 Billion Debt Exchange

In a complicated financial transaction, Royal Bank of Scotland has unveiled plans to buy back £15.8 billion of debt at a discount to its face value which will actually generate a £1.25 billion paper profit for the bank. The debt buyback is expected to increase the company's core tier 1 capital ratio by around 30 basis points which will improve the company's financial standing and create a firm base for the future.

Alistair Darling To Intervene Regarding RBS And Lloyds Bank Lending

In a highly controversial and highly political move it is believed Alistair Darling will use the forthcoming budget to issue lending targets for Royal Bank of Scotland and Lloyds bank. He is rumoured to be on the verge of demanding £90 billion in extra lending to businesses during 2010 after the earlier debacle which saw the two banks miss earlier lending targets.

More Mixed Signals From Lord Mandelson

Over the last few months we have seen the UK government demanding that UK banks are more risk averse with their loan approvals, we have seen regulations introduced to reduce high-risk investments but now Lord Mandelson plans to give businesses a right of appeal if their loan application is rejected. So what is going on?

Should Unsolicited Financial Promotions Be Allowed?

The announcement that MBNA, one of the U.K.'s major credit card companies, will cease to issue credit card cheques after 31 March has prompted a discussion amongst UK consumers. Each and every day brings new and often unsolicited financial promotions to many in the UK at a time when funds are tight and credit can be difficult to come by. However, should unsolicited financial promotions be allowed?

Student Loan Company Under Pressure

The government is today under significant pressure regarding the Student Loan Company with expectations that applications will number twice that of last year and the system will be unable to cope with his excessive demand. The government has already sent in PricewaterhouseCoopers to audit the company amid claims that the government was warned 12 months ago of the impending fiasco and has done very little about it to date.

Irish Police Question Former Chairman Of Anglo-Irish Bank

Sean Fitzpatrick, the former head of Anglo-Irish bank, has today been released from police custody where he was being questioned regarding alleged financial irregularities at the banking institution. Mr Fitzpatrick left the company back in December 2009 amid allegations regarding the concealment of personal loans from the bank. The investigation into Anglo-Irish bank led directly to the economic crisis in Ireland and the nationalisation of the bank in 2009.

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