UK watchdog proposes overhaul of cash savings products
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LONDON (Reuters) - Britain's markets watchdog proposed on Thursday a single interest rate for cash savings products, a move it says would bump up interest payments to consumers by 260 million pounds a year.The Financial Conduct Authority (FCA) said competition in cash savings products is not working well for many of the 40 million consumers who hold either an easy access savings account or easy access cash Individual Savings Account or ISA."Under new rules all firms will have to set a single..