TITLE

OFT aims to bring new entrants into banking sector

AUTHOR(S)
Jones, Lee
PUB. DATE
August 2009
SOURCE
Money Marketing;8/6/2009, p8
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the discussions between the Office of Fair Trading (OFT) and the government to help bring new players into the banking sector in Great Britain. It highlights the financial services plan of the OFT which aim to encourage new businesses to join in the banking market. Ray Boulger, senior technical manager of John Charcol, stresses that the resulting gap in the sector has created a lot of opportunities for new lenders.
ACCESSION #
44053372

 

Related Articles

  • Bank backlash. Cicutti, Nic // Money Marketing;8/16/2007, p31 

    The article reports on the results of a survey on the modes of fee charged by banks. It is noted that this survey explored the options for banks in case the test case between the British Office of Fair Trading and banks results in scrapping of overdraft charges. According to the survey, 40% of...

  • OFT finds low claims fuel huge PPI profits. York, Nicola // Money Marketing;8/10/2006, p3 

    The article reports on the payment protection insurance (PPI) market, which was closed by the Office of Fair Trading (OFT) after it found out that providers are making massive profits on the back of low claim ratios. Thus, it led to request the Financial Services Authority to delink loans and...

  • OFT to investigate impact of public funding on banks' competitiveness. Holt, Natalie // Mortgage Strategy;3/16/2009, p7 

    The article reports that the Office of Fair Trading (OFT) is to investigate how public funding for banks may impact on competition in the market in Great Britain. OFT is to develop a Financial Services Plan to examine how banks that have received taxpayers' cash could unfairly gain market share...

  • Industry Comment.  // MarketWatch: Financial Services;Sep2008, Vol. 7 Issue 9, p4 

    The article provides update related to the financial services industry. The Office of Fair Trading (OFT) has claimed that majority of customers in Great Britain are not aware of the charges and interest rates paid on their current account. Julius Baer Securities Inc., third largest private bank...

  • Macquarie in the money.  // Super Review;Feb2004, Vol. 17 Issue 1, p6 

    Reports on the financial performance and operations of Macquarie Bank's Funds Management Group. Corporate profits; Profit for the financial services group.

  • Banks refresh legacy systems with SOA to enable faster payments. Flinders, Karl // Computer Weekly;5/27/2008, p8 

    The article reports that banks are re-using technology to help them take advantage of a joint initiative taken by the Great Britain Office of Fair Trading (OFT) and banking industry to reduce payment processing times to one day. The introduction of the Faster Payments System (FPS), which goes...

  • The Importance of Auditing the Asset/Liability Management Process. Canada, Darnell // Bank Accounting & Finance (08943958);Oct/Nov2004, Vol. 17 Issue 6, p17 

    The article focuses on the importance of auditing the asset-liability management (ALM) process in the banking industry. ALM committees (ALCO) examine the balance sheets to identify and quantify the hidden risks in investment. The key elements in the ALM function comprised the role of the board...

  • Top 10 stories online this week...  // Money Marketing;3/13/2014, p34 

    The article presents a list of the top 10 stories in the online edition of the journal including the Great Britain Office of Fair Trading (OFT) suspending first payday lender license.

  • Fee-charging debt management companies: Feedback required by OFT.  // Credit Management;May2001, p7 

    Reports on the efforts of the Office of Fair Trading (OFT) to gather evidence against fee-charging debt management companies in Great Britain. Need for written evidence for consumers' experiences; Requirements set by the Office to address complaints of unfair business practices; Consideration...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics