May 2020 – Tony Prestedge the ex-deputy CEO of the Nationwide Building Society who waits to join Santander Bank in the autumn as deputy CEO has now been recruited to help Dido Harding as she struggles to get the NHS Track and Trace programme off the ground.  Prestedge was the techy chappy at Nationwide and it…

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April 2020 – Nationwide Building Society has had to make a U-turn on its intentions to pursue a business banking adventure due, according to the society, to the effects of the coronavirus pandemic which, they say, has made it commercially unviable.  The society will return a £50m grant from a pool of RBS cash aimed…

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March 2020 – Some building societies, including Nationwide, Yorkshire and Leeds, have increased their fixed-term mortgages despite a steep interest rate cut by the Bank of England designed to ease the pressure on borrowers. Some societies increased charges on loans after the Bank of England cut the base rate from 0.75pc to 0.25pc. A cut should result in mortgages becoming cheaper – saving…

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March 2020 – Tony Prestedge the deputy chief executive director of Nationwide Building Society has lost his mutual desires and jumped ship to Santander Bank in the same roll in preparation for the top job as Chief Exec. Mr Prestedge took on the responsibilities for various IT developments at Nationwide as the building society sought to…

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February 2020 – Once again the Competition & Markets Authority has had to order the Nationwide Building Society to make refunds to members for breaking the rules.  The society had failed to provide sufficient warning alerting members as was required before imposing charges for unarranged overdrafts.  The rules (CMA RBMI Order 2017 Part 6) have now been broken no…

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January 2020 – The Financial Conduct Authority (FCA) has asked building societies and banks to justify their new fees for arranged and unarranged overdrafts.  Only 7 months ago the FCA asked building societies to simplify the structure of their rates  and ensure that charges were the same for unarranged and arranged overdrafts.  However building societies and banks…

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January 2020 – The Financial Conduct Authority (FCA) is to carry out a consultation on the practices of building societies and banks that drastically cut the value of savings account rates after an initial high opening rate.  Loyal and trusting members often do not check the small print where accounts may be stated to considerably reduce after a period…

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January 2020 – Nationwide Building Society continues to find ways for wasting members’ money.  This society has carried out a poll on the personal cost of working in an office.  The lengthy report on the findings of the poll states that Guy Simmonds whose job is described as Head of Current Account Customer Management said: “As our research…

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November 2019 – Nationwide BS Interim Results show this society’s profits suffered a 40% fall from £516m to £309m for the first half year.  However the chief executive Joe Garner states his bonuses are not based on profits.  This seems to be at variance with their annual remuneration report, where unsurprisingly profit is an (unqualified) element. …

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September 2019 – This society held a special general meeting in order to change auditors from Deloitte to Grant Thornton (the firm that Manchester BS has had problems with).  Only a few months earlier at their AGM, held in April, the Saffron passed a resolution to renew the contract, as auditors, with Deloitte for 12…

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