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Bloomberg Daybreak: Europe Edition
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How the FCA Is Hoping to Make This Fair for Long Term Savers
CEO of the FCA has written to Harriet Baldwin, chairwoman of common treasury select committee. He says harm to long term savers on less competitive rates is likely to have grown as interest rates in UK increase. Says it's standard practice for financial firms to offer more tract of rates to new savers while existing savers so they vary loyal customers earn less competitive rates and are losing out.
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