Basic bank account customers with Barclays face tougher financial penalties from next year, after the bank announced its intention to increase the penalty cost for missed direct debit payments.
The Financial Services Authority has fined Barclays Capital £1.12 million pounds for failing to protect and segregate on an intra-day basis client money held in sterling money market deposits.
The chief executive of Barclays has played down US proposals to make the financial system "safer" by scaling down the size of the banks and stopping them from carrying out riskier trading activities.
