FSA confirms extra packaged accounts proposals
The Financial Services Authority (FSA) has confirmed it will be implementing two further proposals to its packaged bank account rules.
Packaged accounts have been defined by the FSA as current accounts bundled up with a range of insurance policies and other features such as overdraft facilities or music downloads.
In July this year, the regulator confirmed that as of 31 March 2013 banks and building societies will have to check whether customers are eligible to claim under each policy and share that information with the client.
However, it then began consulting on further proposals to ‘address feedback on the content and
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