For savers and investors, the financial services compensation scheme (FSCS) represents a safety net. Established in 2001 and expanded after the global financial crisis of 2007/2008; it has recovered billions of pounds of consumer money over the past two decades.
Investing.com -- Banks stepped up the pace of borrowing from the Federal Reserve’s emergency lending programs for the second-straight week, pointing to ongoing liquidity strains just as rumblings in the sector reemerged following recent disappointing quarterly results from regional banks.
The average 30-year fixed-rate mortgage rate increased to 6.43% for the week ending April 27, 2023, according to the latest Freddie Mac data. That’s up from last week when it averaged 6.39%. A year ago, it averaged 5.10%.
(Bloomberg) -- There are not enough people to repossess all the motorcycles. That was the message from Harley-Davidson Inc., which said Thursday its credit losses in the first quarter were due in part to a shortage of repossession agents.
The lawmakers are introducing a bill to repeal the Consumer Financial Protection Act that created the agency and restore federal laws "as if the act had not been enacted," according to a copy of the bill obtained by Fox News Digital. Since it was established in 2010, Republican lawmakers and financial groups have criticized the CFPB as an unnecessary agency.
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