Banks continue self-regulation

UK - Banks and building societies should continue with self-regulation of accounts, the UK Treasury has been told by a high-powered committee it appointed to review the system.

But the committee, which is chaired by former Bank of England monetary policy committee member DeAnne Julius, has recommended an overhaul of the voluntary codes of conduct.

The committee's report, handed to the Treasury last week, calls for better treatment of borrowers who fall into arrears.