Article preview: Banks have received a warning about deposit aggregation services, which help savers find the best interest rates for their cash deposits. The Prudential Regulation Authority and Financial Conduct Authority have written to the chief executives about the risks involved with deposit aggregators. The letter highlights the risks involved with a growing volume of deposits being placed through these services.
Regulatory warning for banks accepting money from deposit aggregators
This 383-word blog post considers a warning letter from the Prudential Regulation Authority and Financial Conduct Authority who have written to bank chief executives about the risks involved with deposit aggregators. Written on 14th April 2021.
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