Posts Tagged reform

Currency Conversion

BestGuyFriend and his lovely wife are using a credit card with no fees to pay for almost everything during their European trip. Heck, during their visit in London, they didn’t exchange any US Dollars for British Pounds. As not only do you get charged when you exchange but if you are unfortunately left with money before you depart and decide to change back to original currency, you get charged again. Thus, you are losing out twice. So can’t say I really blame them — particularly as the British Pound is but one of five currencies they will encounter during the […]

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Banking Reform

Earlier this week the Independent Commission on Banking Reform released its final report. In it are reforms that the bankers are claiming would cost the industry over £7billion a year. Interestingly, most of the recommendations wouldn’t be implemented until 2019. Why so long is beyond baffling considering the sector is an octopus and continues to have the potential to bring the economy to its knees. Delaying the reform is also particularly worrying when you consider that they are unable to put in place policies and procedures to stop reckless activity. Case in point, we hear today of another rouge trader: […]

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