Moneysupermarket.com has appointed Barclaycard’s advertising head, Paul Troy, as its director of consumer marketing. The site is looking to consolidate its position as the most visited price comparison site in the UK. According to Experian Hitwise, it had a 53% share of all visits to comparison sites in December 2010.
FSA paid PwC a total of £7.6m for the investigation into Royal Bank of Scotland, according to The Guardian, yet does not even have a report of its findings it can publish following political pressure to elaborate on its decision to clear to bank of any wrongdoing. The newspaper has also revealed the watchdog offset the bill with a £4.7m 'special levy' imposed on RBS for the extra regulation the bank was required to have following its government bail-out.
The Treasury is currently negotiating what the Daily Telegraph describes as a 'secret deal' with banks that would see them increase lending to small businesses and home owners by more than £200bn, in return for the government acquiescing to their bonus plans. Among the measures lenders would have to introduce to comply with the deal would be lower rates on mortgages for first time buyers, and smaller deposit requirements.
Sunday Times has reported that a number of credit card companies are yet to implement government guidelines to clear customers’ most expensive debts first. Card providers were expected to sign up to a voluntary code of practice and implement a 'positive order of repayments' before the end of 2010. Lloyds Banking Group and the Post Office are expected to adopt the changes on 17 January 2010
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