Briefs

REGULATORY UPDATE

BBA cautious on FSA customer practices paper – In mid-May, the UK’s Financial Services Authority published Fairness of terms in consumer contracts – a statement of good practice to a "cautious welcome" from the British Bankers Association. Banks have had to implement both the Unfair Contract Terms Regulations, in force since 1995, and the FSA’s Treating Customers Fairly agenda, and are now concerned about how this latest statement from the FSA interacts with them. The BBA says: "Whilst it we

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