Days of free banking could be numbered as senior regulator slams it as an - AAD Consumer Forum

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5corpio started a blog post Days of free banking could be numbered as senior regulator slams it as an
14 March 2012, 10:17

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Days of free banking could be numbered as senior regulator slams it as an

........ 'outmoded concept that doesn't really work'

Financial Services Authority chief, Martin Wheatley, plunged the future of free banking into further doubt last night as he declared that it was an ‘outmoded concept’ and ‘doesn’t really work’. He said that banks needed to make money and that ‘the reality is that if you are providing services free it is being subsidised from somewhere else’. It came as the City watchdog launched its Retail Conduct Risk Outlook – a 118-page report listing the 15 biggest risks facing families using financial services....Read more HERE
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