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Northern Rock
Taxpayers could make billions from the banks they rescued during the financial crisis.
Nationalised lender Northern Rock has returned to profit in the first half of the year.
Chancellor George Osborne has called for a tight rein on pay and bonuses and increased lending from the banks as they prepare to announce a recovery in profits this week.
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David Jones, the former Northern Rock chief financial officer (CFO) banned by the FSA for misreporting mortgage arrears, today described his punishment as “unfair and disproportionate”.
David Jones, a former finance director at majority state-owned lender Northern Rock, has been banned and fined by the FSA for misreporting arrears figures.
Northern Rock mortgage borrowers on the toxic loan side of the bank will be slammed with early redemption charges if they attempt to remortgage before their deal ends.
A banking revolution is being plotted by two City grandees who want to bring 'traditional' lending back to Britain's high streets.
Northern Rock has announced plans to shed 650 jobs by the end of the year.
The main parties have been divided on stamp duty, HIPs and Northern Rock. Can they work together on housing issues?
The chair of the All Party Parliamentary Insurance and Financial Services Committee has described Labour proposals to re-mutualise Northern Rock as “crazy”.
The FSA today fined David Baker, former deputy chief executive of Northern Rock, £504,000 for misreporting mortgage arrears figures.
Mutuality is back on the political agenda - at least that is what my initial reading of Labour's election manifesto suggests could happen if they win the election.
Prime Minister Gordon Brown is expected to announce a manifesto in Birmingham today which includes plans to remutualise Northern Rock.
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