Mortgage repayment problems not as bad as the 90s
The level or arrears and repossession should be lower than the early 1990s, the head of the Financial Services Authority (FSA) said yesterday, as the short-term financial position of many…
Tag: FSA
-
-
Lenders should be named and shamed
Which? magazine has called for the Financial Services Authority to ‘name and shame’ lenders charging customers with exorbitant mortgage arrears charges. Which? wants the list submitted to judges hearing repossession…
-
Banks fail the âstress testâ
The Financial Services Authority (FSA) has published details of its âstress testâ for banks, which assumes that house prices will halve and unemployment will peak at 12 per cent. The…
-
FSA fines to double
City regulator the Financial Services Authority announced a sharp increase in penalties to come in from February 2010. Under the new rules individuals will face a minimum fine of £100,000…
-
The FSA lays down the law
The Financial Services Authority (FSA) has written to the chief executives of all mortgage lenders giving them until 31 January to treat customers in arrears fairly or face action. It…
-
FSA warns of rising cost of mortgage insurance
The Financial Services Authority has warned a number of insurers have recently increased the premium charged for mortgage payment protection insurance or reduced the level of protection offered, at a…
-
People should be frightened of us, FSA says
The boss of the Financial Services Authority has warned the finance industry to be afraid of the regulator, saying it would be ‘more intrusive and direct’ than before. Hector Sants…
-
Regulator accused of complacency
The Financial Services Authority (FSA) has been accused of complacency in its dealings with building societies. A former FSA worker told Lib-Dem spokesman Vince Cable that poorly qualified FSA officials,…
-
Critics round on ‘ineffectual’ repossession scheme
However, consumer groups and charities including Shelter have been speaking before a Treasury select committee looking at how mortgage lenders handle repossession cases. They have called the government schemes ineffective…
-
Fines increasing for mortgage fraud
The level of fines levied against individuals for mortgage fraud so far this year has overtaken the number for the whole of 2008. The Financial Services Authority (FSA) said in…