Welcome to TLT's Financial Services Regulation weekly round up. Each week we summarise the latest regulatory news, focusing specifically on regulatory reform, consumer credit, the Financial Ombudsman Service, advertising, insurance, mortgages, banking and payments, and give a round up of industry news. Among the stories we cover this week are:
- CML responds to the FCA and PRA's consultation paper on 'strengthening accountability in banking: a new regulatory framework for individuals;
- RBS and NatWest report that payday loan brokers are unexpectedly taking money from accounts;
- CML responds to HMT consultation on implementing the Mortgage Credit Directive;
- ECB takes over supervision of banks in euro zone; and
- The European Commission considers plans to introduce a cap on interchange fees paid for card transactions.