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Financial reform: Will the plans work? | Financial reform: Will the plans work? |
(30 minutes later) | |
BBC Radio 4's Money Box Saturday, 11 July 2009 at 1204 BST On Radio 4 and Online | BBC Radio 4's Money Box Saturday, 11 July 2009 at 1204 BST On Radio 4 and Online |
The government has unveiled its plans for reforming financial services and much of it will not happen this side of an election - now less than a year away. | The government has unveiled its plans for reforming financial services and much of it will not happen this side of an election - now less than a year away. |
But buried in its White Paper are a number of changes designed specifically to help consumers. | But buried in its White Paper are a number of changes designed specifically to help consumers. |
They include the colour coding of products, a national money advice service and changes to the compensation scheme when banks go bust. | They include the colour coding of products, a national money advice service and changes to the compensation scheme when banks go bust. |
What will they mean and will they work? | What will they mean and will they work? |
We discuss the detail with Anthony Elliot of the charity Fair Banking and Angela Knight of the British Bankers' Association. | We discuss the detail with Anthony Elliot of the charity Fair Banking and Angela Knight of the British Bankers' Association. |
Further information: UK set to reform bank regulation Firms to reveal complaints data Key issues: Financial regulation External links and helplines | Further information: UK set to reform bank regulation Firms to reveal complaints data Key issues: Financial regulation External links and helplines |
Share scams | Share scams |
Investors are under continual threat from so-called "boiler rooms" | Investors are under continual threat from so-called "boiler rooms" |
As investors struggle to get a good return in the current economic climate, there are fears that more people will fall victim to criminal gangs masquerading as stock brokers. | As investors struggle to get a good return in the current economic climate, there are fears that more people will fall victim to criminal gangs masquerading as stock brokers. |
It has been estimated that every year as many as 30,000 people are losing hundreds of millions of pounds between them. | It has been estimated that every year as many as 30,000 people are losing hundreds of millions of pounds between them. |
Bob Howard reports on what is being done to fight back. | Bob Howard reports on what is being done to fight back. |
Further information: href="/2/hi/programmes/moneybox/8145386.stm">Banks take action on share scams class="bodl" href="/2/hi/business/5202550.stm">Q&A: Boiler room scams External links and helplines | |
Mortgage arrears | Mortgage arrears |
Increasing numbers of people are falling behind with their payments | Increasing numbers of people are falling behind with their payments |
More than 260,000 people were at least three months behind with their mortgage payments in May, according to the Council of Mortgage Lenders. | More than 260,000 people were at least three months behind with their mortgage payments in May, according to the Council of Mortgage Lenders. |
It has warned that the total number behind with payments could rise to more than 400,000 by the end of the year. | It has warned that the total number behind with payments could rise to more than 400,000 by the end of the year. |
There is concern that some lenders might see such people as a useful source of profit, charging them while they struggle with their debt. | There is concern that some lenders might see such people as a useful source of profit, charging them while they struggle with their debt. |
Consumer organisation Which? wants the regulator to make public the names of the worst offenders. | Consumer organisation Which? wants the regulator to make public the names of the worst offenders. |
We discuss the issues with Dominic Lindley of Which? and Sue Anderson of the Council of Mortgage Lenders. | We discuss the issues with Dominic Lindley of Which? and Sue Anderson of the Council of Mortgage Lenders. |
Have Your Say: Mortgage arrears | Have Your Say: Mortgage arrears |
Further information: External links and helplines | Further information: External links and helplines |
First Plus loans | First Plus loans |
First Plus no longer offers new loans or advances to existing customers | First Plus no longer offers new loans or advances to existing customers |
Some customers of secured lender First Plus say the company has acted unfairly in not lowering rates when base rates have fallen so dramatically. | Some customers of secured lender First Plus say the company has acted unfairly in not lowering rates when base rates have fallen so dramatically. |
And a compliance expert says its contract terms give too much power to the company and are therefore unenforceable. | And a compliance expert says its contract terms give too much power to the company and are therefore unenforceable. |
The former market leader, which closed to new business last year, says its terms are fair and that it is doing nothing wrong. | The former market leader, which closed to new business last year, says its terms are fair and that it is doing nothing wrong. |
Samantha Washington investigates. | Samantha Washington investigates. |
Further information: External links and helplines | Further information: External links and helplines |
BBC Radio 4's Money Box will be broadcast on Saturday, 11 July at 1204 BST. | BBC Radio 4's Money Box will be broadcast on Saturday, 11 July at 1204 BST. |
The programme will be repeated on Sunday, 12 July at 2102 BST. | The programme will be repeated on Sunday, 12 July at 2102 BST. |