Mark Carney, the Governor of the Bank of England, has warned that growing levels of household debt are a threat to the economy.
People are borrowing more for the first time since the financial crisis of 2007 and credit card debt is rising.
According to the Bank's latest figures, household debt now stands at 133% of income, ITV News Business Editor Joel Hills reports.
The bank said the fund would be used to pay an "automatic refund of complex fees" paid by the firms between 2008 and 2013.Read the full story ›
Royal Bank of Scotland (RBS) made a £469 million loss in the third quarter and confirmed that it will miss a 2017 deadline to sell off its Williams & Glyn branch network.
The figure compares with a profit of £940 million in the same period last year, when the bank's balance sheet was boosted by the sale of US bank Citizens.
The lender, which is still 73% owned by the government, said that despite "positive discussions" with interested parties on the sale of Williams & Glyn, it will miss its 2017 deadline.
RBS must offload the Williams & Glyn branches by the end of next year as part of EU conditions linked to its £45 billion bailout at the height of the financial crisis.
The bank was also hit by £425 million in conduct and litigation charges, largely linked to the sale of mortgage-backed securities in the US and £469 million in restructuring costs.
Ross McEwan's comments come after the Bank of England cut its interest rate to a record low of 0.25%.Read the full story ›
RBS chief executive Ross McEwan has told ITV News the economic outlook remains challenging and his bank are reviewing the situation.Read the full story ›
The chief executive of the state-owned bank blames the loss on "many of the legacy issues that have plagued this bank."Read the full story ›
The study, conducted by the European Banking Authority, looked at how much capital would be used up in adverse economic conditions.Read the full story ›
The Crown Office said there was "insufficient evidence" to take action against Goodwin or any other individuals over the bank's failure.Read the full story ›
The Royal Bank of Scotland has reported a first quarter pre-tax loss of £968 million - more than double last year's of £446 million.
The loss reflects the impact of its £1.2 billion payment last month to the Treasury to buy out a crucial part of its £45 billion bailout.
The payment ended a dividend access share (DAS) agreement with the Government which was put in place in 2009 and prevented it paying dividends to any shareholders before the Treasury.
The bank said: "RBS remains on track with its plan to build a strong, simple, fair bank for customers and shareholders."