UK's financial watchdog proposes overhaul of cash savings products
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LONDON (Reuters) - Britain's financial markets watchdog proposed an overhaul of cash saving products on Thursday designed to improve interest rates offered to long-standing customers.The Financial Conduct Authority (FCA) said last year that first-time customers for cash savings products were getting higher interest rates than existing customers when they came off introductory offers, dubbed a loyalty penalty in the industry.Under the FCA proposals, firms will have to set a single easy access..