UK banks have defended the interest rates they offer savers in a meeting with the financial watchdog, but concerns have been raised about low earnings on savings accounts. The Financial Conduct Authority (FCA) has held a summit with big lenders after the average two-year savings account rate was found to be 4.84%, while the average two-year fixed mortgage charged 6.54%. The FCA has urged banks to communicate more clearly with customers about savings rate changes and options. However, bankers argued that the UK General Data Protection Regulation (GDPR) made it difficult to contact customers who had opted out of marketing communications.
What is this page?
You are reading a summary article on the Privacy Newsfeed, a free resource for DPOs and other professionals with privacy or data protection responsibilities helping them stay informed of industry news all in one place. The information here is a brief snippet relating to a single piece of original content or several articles about a common topic or thread. The main contributor is listed in the top left-hand corner, just beneath the article title.
The Privacy Newsfeed monitors over 300 global publications, of which more than 4,350 summary articles have been posted to the online archive dating back to the beginning of 2020. A weekly roundup is available by email every Friday.
