ISA savers losing over £100billion in cash accounts as MPs call for a break up of UK banks
These results come at an unfortunate time for banks and other lenders as both public and political sentiment have turned against some of the biggest high-street names.
Today, news emerged of a cross party group of MPs forming to call for a break up of Britain’s main banks, on the grounds they’re exploiting vulnerable customers.
Some of the accusations levelled at the big banks by the all-party parliamentary group (APPG) include widespread practices of predatory pricing models and “loyalty penalties”, whereby customers are lured in with an attractive deal, only to be charged higher prices the longer they remain.
In tandem with these calls, HyperJar released extensive national research revealing banking sentiment is not in a positive place at the moment.
