Banks pledge £1.5bn for small business
High street banks have pledged to set up a £1.5 billion fund to provide investment for small businesses despite warnings that nearly 125,000 businesses are in financial distress
HBOS charges 3,650% on overdraft of £10
They said it was charging an effective annual rate of interest of 3,650% on an overdraft of just £10. Instead of charging advertised interest on overdrafts, the bank is instead charging a flat fee of £1 a day.
