The Anonymous Widower

Will The Banks Actually Allow This?

It is being reported in the Telegraph, that the government is thinking about allowing peer-to-peer lenders to be funded by ISAs.

I suppose it will be very good news for those who invest in ISAs, but it will be bad news for banks, as they will be losing one of their ways of selling low-interest rubbish products to their customers. The only way, they could get a piece of the action, would be for a bank to get into bed with a peer-to-peer lender.  But the likes of Zopa and their peers, probably have enough financial friends to set up a way to sell ISAs and give the banks even more of a kicking.

After all, how many of those on the Dalston omnibus would trust a banker with anything but small change.

I suspect George Osborn is going to get an enormous amount of lobbying to stop this well-thought out scheme.

Hold tight George! Our savings are dependent on you not giving in to the wunch,

August 19, 2013 - Posted by AnonW | Finance, News | Banks, Peer-to-Peer Lending