FSCS Speeds Up Compensation Payments

The Financial Services Compensation Scheme (FSCS) introduces a new system for faster compensation payments, enabling customers to receive funds directly into their bank accounts within hours of a bank or building society failure. This upgrade, following the collapse of the London Community Credit Union, aims to enhance public trust in the UK financial system and provide better protection for everyday savers.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.