Moneynet in The Press
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societies call for help in fight against banks
Published: 09/12/2009 |
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Daily Express (Main) Building societies are calling on the Government to stamp out what they see as unfair competition from banks that have been propped up with State funds and guarantees for savers’ cash. Building societies have been using competitive fixed savings rates as a means of attracting funds directly from savers, rather than the more traditional money market route. Andrew Hagger at Moneynet.co.uk says: “It is the level of competition that the mutuals bring to the market that is important.”
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