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Commercial Credit News
|FCA to consult on new measures for cash savings account holders|
|Thursday, 23 July 2015|
Switching cash savings accounts will become quicker and easier under proposals announced by the FCA today. The FCA will introduce a series of new rules that will force firms to provide clear information on the interest rates on their cash savings products as well as clearly alerting consumers to changes in interest rates or the end of an introductory rate for example.
The FCA is also working with industry to deliver seven day switching for the vast majority of cash ISA transfers from January 2017.
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