The Financial Services Authority (FSA) has fined David Jones, Northern Rock’s former finance director, for the misreporting of mortgage arrears at the bank.
The Watchdog has fined Mr Jones £320,000 and banned him from performing any function in relation to any regulated activity.
The fine comes after former deputy chief executive, David Baker, and former credit director, [...]
Proposed new rules on mortgage lending from the Financial Services Authority (FSA) have received broad comment.
The regulator claims that almost half of new mortgages approved between 2007 and the first quarter of 2010 were provided without verification of income.
It therefore wants to impose affordability tests for all mortgages, making lenders ultimately responsible for assessing a [...]
The Financial Services Authority (FSA) has published new rules aimed at protecting vulnerable customers in arrears on their mortgages.
From 30th June, homeowners in arrears must be treated fairly by lenders and the following key areas have been confirmed:
Firms must not apply a monthly arrears charge where an agreement is already in place to repay the [...]
The Financial Services Authority (FSA) has published new rules aimed at protecting vulnerable customers in arrears on their mortgages.
From 30th June, homeowners in arrears must be treated fairly by lenders and the following key areas have been confirmed:
Firms must not apply a monthly arrears charge where an agreement is already in place to repay the [...]
The news that the Financial Services Authority (FSA) is to be broken up could have an impact on the availability of high loan-to-vale mortgages, already scarce in the market.
Chancellor of the Exchequer, George Osborne, has announced that the key role of regulating the UK financial sector is to pass to the Bank of England.
The change [...]