When Gorgeous George announced our pension freedoms in the Budge, a lot of us thought great – we’ve got enough saved to pay off the rest of the mortgage and have a good holiday. But then reality cuts in – a pension’s for life and I may own by house but I can’t buy a sausage with a brick. Our guest blogger is Henry Tapper, founder of online pension resource, the Pension PlayPen. Henry has worked in pensions all his life and is now a Director of First Actuarial. Would you like to blog for us? To people who’ve done […]
Tag: regulation
Our banking standards submission
Money Fight Club has been through a few rounds with the High Street banks as they have invented new ways to part customers from their money over the years. The mis-selling of personal pensions, endowment mortgages, payment protection insurance and interest rate swaps have cost customers billions of pounds and damaged the reputation and the finances of the banks. Now the Banking Standards Review headed up by Sir Richard Lambert, former editor of the Financial Times, has proposed the setting up of an independent body to raise standards and to bring ethics into banking. It does not go far enough, […]
Banking… standards?
The Banking Standards Review from Sir Richard Lambert proposes an independent body that will champion better banking standards. What’s not to like? But before anything can happen it has posed 19 questions on ethics, training, the assessment of a bank’s code of conduct, best practice, competence and much more. Sir Richard wants the body to raise standards of competence and conduct in banking but it is likely to fail abysmally if it becomes a “members organisation for bankers.” How can the markets and more importantly the customers begin to trust banks if their new body is little more than a […]