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Aldermore responds to Financial Conduct Authority’s interim report on the cash savings market

POSTED: 8th July 2014
IN: Newsroom
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Following today’s interim report by the Financial Conduct Authority (FCA) into the cash savings market study, Simon Healy MD for savings at Aldermore said:

“The savings market is too complicated and opaque. The vast majority of savers looking to put money away
want greater clarity and transparency to understand what terms they are agreeing to and ultimately how much they will receive at the end.

“While I welcome the tone of the FCA’s interim findings, I am still surprised we have to rely on the regulator to introduce recommendations in the first place. Being upfront and ensuring the customer is at the heart of all
decisions is at the core of our business. It shouldn’t require regulatory intervention to ensure other providers treat their customers fairly.

“It is unsurprising that savers are now turning to banks like Aldermore who not only offer better rates, but are straightforward and upfront with their information.

“We will be submitting our own thoughts to the FCA in the weeks to come. I would like to see better communciations to consumers to ensure they get the best out of their savings pot.”

**ENDS**


For further information, journalists can contact:

Adam Taylor

Phone: 0207 297 5971

Mobile:07557 965 958

Email: adam.taylor@cicero-group.com

Notes to Editors:

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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