Payday lenders such as Wonga have been accused of charging exorbitant fees and tipping households into a spiral of debt

Britain’s financial watchdog set out new rules on Tuesday to cap the sky-high interest rates offered by payday lenders, bringing down the cost of sho(...)

Bank of England deputy governor Andrew Bailey said “We have no evidence yet, and we have not seen the evidence that was in the Bloomberg report.”

The Bank of England has seen no evidence to back media allegations that it condoned or was aware of manipulation of reference rates in the fore(...)

Andrew Bailey, Bank of England chief executive officer of the UK’s Prudential Regulation Authority. Photograph: Matthew Lloyd/Bloomberg

The Bank of England (BoE) has seen no evidence to back media allegations that it condoned or was aware of manipulation of reference rates in th(...)

UBS sought to act quickly to gather and supply information when similar allegations of wrongdoing by leading banks in foreign exchange surfaced in June. Photograph: Steffen Schmidt/ EPA

Swiss bank UBS approached US authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in(...)

“This change will play a vital role in restoring the international credibility of Libor,” said Baroness Hogg.

The scandal-plagued Libor interbank rate formally broke with its past yesterday as NYSE Euronext, the transatlantic exchanges operator, won the righ(...)

A review of Libor by Financial Conduct Authority boss Martin Wheatley recommended control of the rate be stripped from the British Bankers’ Association. Photograph: Simon Dawson/Bloomberg.

The owner of the New York Stock Exchange is to take control of the controversial interbank lending rate at the heart of the recent banking scandal.NYS(...)

The controversial payday lending industry was the subject of a government-led summit on Monday, hosted by consumer minister Jo Swinson. Photograph:  Gareth Fuller/PA Wire

Payday loan companies pride themselves on being able to approve advances online in less than 15 minutes. So, in the time it takes the British governme(...)

Nearly 14,000 mortgage-holders with Bank of Ireland  in Britain  were told tracker rates – which are supposed to be linked to the Bank of England’s base rate – were doubling, or trebling in some cases, even though the base rate has not moved. Photograph: Neil Hall/Reuters

British MPs have demanded assurances from the British financial regulator that other banks will not try to copy Bank of Ireland’s decision last(...)