Debt management firms in the United Kingdom could face heat from the Office Of Fair Trading as many of their advertisement have been found to be misleading targeting heavily indebted customers.
Bank of England might print more money in a bid to tackle inflation and increase the lending potential of the financial institutions. This is expected to help people borrow money and get out of credit crisis.
Natwest has been accused of mis-selling a Natwest Gold Account. The customer has claimed that he was promised insurance for his mobile phone but was denied the same once he had accidentally lost his set.
Inflation rate in the United Kingdom remains at a steady 3.1% which is higher than the target of 2% set by Bank of England. The base interest rates have fallen to a historical low of 0.5%.
HSBC has threatened to pull out of London if the Liberal Democrats have their way of separating the retail banking from high risk investment banking. The banking giant is seriously concerned about this decision.
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