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The UK's recently-elected coalition government has made the abolition of 'unfair' bank fees and charges one of its key policies going forward. However, it is unclear how the government intends to enforce such legislation, and while the move appears to represent a good deal for consumers, there are significant downsides for both the industry and individuals.
Published By Datamonitor
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21 May 2010 |
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As part of its recent white paper on banking reforms, the British government has suggested ways in which the financial services industry can re-engage with consumers, including the introduction of a color-coded system more commonly found on food labels. While the suggestion has drawn some criticism, the proposed system should at least lead to greater innovation and competition within the industry.
Published By Datamonitor
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14 Jul 2009 |
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Expert View
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The UK government has confirmed that Virgin Money will buy Northern Rock, with the sale due to be completed at the beginning of 2012. This will create a new entrant with the potential to contend with the largest players almost overnight. However, the amalgamation of the two providers will not be without obstacles as customers from both sides start to witness change.
Published By Datamonitor
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18 Nov 2011 |
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