Henry Brennan

Henry Brennan has left Money Marketing.

MPs criticise ‘timid’ regulation of payday lenders

MPs have criticised the Office of Fair Trading’s “timid” approach to the regulation of payday lenders. In an investigation of the UK’s consumer credit market, the public accounts committee says the regulator has never fined any of the 72,000 firms with consumer credit licences, which includes payday lenders, suggesting a “timid rather than tough [approach] […]

HSBC hires ex-MI5 director general

HSBC has appointed former MI5 director general Sir Jonathan Evans to its financial system vulnerabilities committee. On 6 August, Evans will join the lender as an independent non-executive director and as a member of the committee which has been specifically launched in order to pinpoint any part of the bank’s operations which could prove vulnerable […]

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HSBC hires ex-MI5 director general

HSBC has appointed former MI5 director general Sir Jonathan Evans to its financial system vulnerabilities committee. On 6 August, Evans will join the lender as an independent non-executive director and as a member of the committee which has been specifically launched in order to pinpoint any part of the bank’s operations which could prove vulnerable […]

Bank of England: House purchase approval figures flat in April

House purchase approval figures failed to show any significant improvement in April, according to results published by the Bank of England today. The number of loans approved for house purchase stood at 53,710 in April, representing £8bn, against the six month average of 53,729 and the 53,674 loans approved in March. The number of approvals […]

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MPs criticise ‘timid’ regulation of pay day lenders

<!– <!– <!– <!– <!– <!– <!– –> –> –> –> –> –> –> A group of MPs has hit out against the Office of Fair Trading, criticising its “timid” approach to the regulation of payday lenders. In an investigation of the UK’s consumer credit market, the public accounts committee say the regulator has never […]

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RBS rejects JC Flowers bid for bank branches

Royal Bank of Scotland has rejected a bid from private equity group JC Flowers for 315 of its branches, according to a report in the Financial Times. Virgin Money and JC Flowers have both recently been linked with bids for the branches following the collapse of a proposed £1.65bn deal with Santander in October over […]

Tesco launches 1.74% two-year fixed rate mortgage

Tesco Bank has launched its lowest ever two-year fixed rate at 1.74 per cent up to 60 per cent LTV. The direct-only product represents a market leading two-year fixed rate which is matched only by Chelsea’s own 1.74 per cent mortgage, launched in April. Tesco has additionally launched a three-year fixed rate of 2.29 per […]

Pimco: Incoming BoE governor Mark Carney will look to devalue pound

Incoming Bank of England governor Mark Carney will most likely prioritise a devaluation of sterling and engage in more quantitative easing when he takes up the position in July, according to Pimco. Pimco says UK investors may want to consider inflation hedging and non-sterling assets, while reducing exposure to those susceptible to tail risks, as […]

Fears over threat of 2013 marking a 16-year low for remortgaging

Brokers are forecasting a gloomy year for remortgaging activity and are braced for the possibility of 2013 marking a 16-year low for the sector. Opinions are divided on why, at a time when fixed rates are either at or approaching record lows, remortgaging activity still remains so subdued. Figures from the Bank of England are, […]

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ASA upholds complaints against payday lender

<!– <!– <!– <!– –> –> –> –> The Advertising Standards Authority has upheld two complaints against a payday lender and ruled its APR was presented in an unclear manner. A radio advertisement for Peachy Loans presented the representative APR of 1,918 per cent as “nineteen eighteen” per cent. Two complainants challenged whether the ad […]

Former Edeus chief Michael Bolton appointed joint CEO of Clayton Euro Risk

Clayton Euro Risk chief executive Tim Keast is leaving the company at the end of June and former Edeus chief executive Michael Bolton has been appointed joint chief executive. Bolton will manage Clayton Euro Risk’s commercial business and strategic development in addition to overseeing the various country heads. After five years at HBOS as head […]