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Category - business banking

LSB publishes its 2022/23 Business Plan

On 3 May 2022, the Lending Standards Board (LSB) published its Business Plan and Budget for 2022/23. in the plan, the LSB sets out its strategic priorities and provides further information on the activities it intends...

LSB sets its agenda for 2022

The latest LSBulletin outlines some of the LSB’s key areas of focus for 2022, including: Contingent Reimbursement Model Code (CRM Code) for APP scams – the LSB will be conducting follow up work from its previous...

Quincecare Duty – Supreme Court Appeal

The Court of Appeal decision in Stanford International Bank Ltd (in liquidation) v HSBC plc [2021] EWCA Civ 535  comes before the Supreme Court this week as SIB appeal the decision to strike out the loss claim it...

Ombudsman News looks at BII complaints

The latest edition of Ombudsman News looks at complaints about business interruption insurance (BII) after the test case. In the case of most complaints, the insurer is now accepting that the policy provides cover...

Lender’s duties limited in asset disposal

In a helpful decision for Banks and lenders, the Court of Appeal decision in Morley (trading as Morley Estates) v Royal Bank of Scotland plc [2021] EWCA Civ 338 confirmed the limited extent of the duties a lender owes...

CMA writes to Danske Bank on bundling breach

Danske Bank required 305 of its SME customers to open a business current account in order to progress their application for a loan under the Bounce Back Loan Scheme. The CMA has now written to Danske Bank to explain...

FCA publishes BBLS PAYG guidance

FCA has published its finalised guidance for firms that provide Pay as You Grow options under the BBLS. The guidance: notes that CONC 7 generally applies to set out the rules for fair treatment of customers in arrears...

Bundling warning from the CMA

The CMA has published a letter which highlights an issue related to implementation of the Bounce Back Loan Scheme at pace. In 2002, a number of banks entered into undertakings with the CMA which confirmed that they...

FCA publishes Covid-19 guidance for SMEs

FCA has added to its suite of guidance on Covid-19 issues with a pages setting out help available to SMEs. The guidance explains what BBLS and CBILS do, and explains the guidance FCA has given to banks and insurers on...

Latest current account data released

The FCA has today published the latest table of data provided to them by current account providers (both business and personal).  The data allows consumers and small businesses to compare the services provided by each...