Tag: Lending Standards Board (LSB)
LSB implements stricter rules for SME personal guarantees
The Lending Standards Board (LSB) has tightened rules on personal guarantees in business lending to provide clarity and prevent unexpected liabilities.There are three major...
PSR may cut reimbursement rate but scale of APP fraud remains...
The Payments Systems Regulator (PSR) is apparently going to water down its incoming rules around authorised push payment fraud (APP fraud) reimbursement.APP fraud is...
UK fraud dips slightly in 2023 but industry notes ‘no silver...
Both the number of cases of fraud and the amount stolen via it fell in the UK last year, but the country’s finance industry...
Report: Santander UK to exit LSB following regulatory duplication concerns
Santander UK is reportedly cancelling its Lending Standards Board (LSB) membership because of the duplication of regulatory standards.According to Sky News, the Spanish-owned bank...
HM Treasury intensifies action on APP fraud clampdown
The British government is moving to bolster the legal framework around fraud prevention, in response to an increase in Authorised Push Payment (APP) fraud.Draft...
LSB drafts new standards for ‘UK backbone’ SME sector
Operating standards for UK banking SMEs have been stepped up by the Lending Standards Board (LSB), a self-regulatory organisation for the UK banking industry. This...
PSR updates APP policies but ‘reimbursement alone cannot prevent fraud’
The UK’s Payments Systems Regulator (PSR) has taken a significant step in improving consumer protection against Authorised Push Payment (APP) fraud.Following consultations over the...
LSB highlights ‘urgent need’ to focus on APP fraud after FCA...
The Financial Conduct Authority (FCA) this week revealed that over 116,000 people in the UK have fallen victim to APP fraud and scams in...
LSB: UK cash withdrawal regulations welcomed as vital to financial inclusion
The UK government is expanding cash availability across the country, with free cash withdrawals within three miles being implemented as law. The Lending Standards Board...
LSB urges financial firms to help SMEs with green finance products
The Lending Standards Board (LSB) has issued a report urging financial services to feed-in on how to best protect standards for business customers to...
