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A Single Powerful Lobby Can Be Created By the Merger of Five UK Trade Associations, Supported by Nine Banks

BBA, Payments UK, the Council of Mortgage Lenders, the UK Cards Association and the Asset Based Finance Association - five British trade associations - are set to merge their efforts to create a stronger lobbying power, backed by nine British banks, including HSBC, Lloyds and Barclays, and building society Nationwide. The effort towards a merger is also aimed to cut costs and increase efficiency and power over European regulations. There are four financial services sectors that could be considered for this review: retail and commercial banking; wealth and asset management; investment/wholesale banking; and insurance. Consolidated information on the sectors and associated trade association involved is represented in the following table by the Financial Services Trade Association Review:

Last year, nine major UK retail banks and a building society launched the Financial Services Trade Association Review (FSTAR) to strengthen their position in the chan ...

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