Myvesta US Articles

As a result of the credit crunch first-time buyers are finding it increasingly more difficult to get on board the property ladder. Not only is it due to the staggering rise in UK house prices over the past decade but also the fact that mortgage lenders are now reducing the amount they are prepared to lend as part of their tighter lending conditions.

Plans to revolutionise the European credit market may have knock on effects for UK shopper.

This all began innocently enough and escalated into the recording of this loan sales call. A member of our UK office received an unsolicited text spam message on her mobile phone advertising a loan from NoWorriesLoans. So we were all sitting around and decided to call the number to see what they were offering.

If you have not heard, this dude Ben Bernanke is the new chairman at the Federal Reserve in the United States. As the leader of the central bank of the U.S. you'd hope that he'd have top notch crack analysts on his staff to give him the critical intelligence that the Fed need to run the show.

According to a recent analysis of credit card delinquency data from America, consumers are rapidly falling behind on their credit card bills.

The once vain hope that a credit crisis was limited only within a subprime mortgage market can no longer be true.

Clearly there is some fence mending needed with customers.

So much has been in the news in the US and UK lately about the Credit Crunch and how the subprime mortgage crisis is to blame for banks financial problems. Here is why the news leaves me worrying about consumers.

My background in medicine taught me at an early age that the ethics of medicine are to do no harm to the patient and put the patient’s needs first. If medicine was only about the rate of financial return then more patients would be put through unnecessary tests to generate income or given medicines that provided financial incentive to the doctor. We view those situations as wrong and unethical.

How much ethics is required in banking. Is the ethical duty to the investor or the customers also?

The other day I wrote an article complaining about UK banks but the reality is that the article could have been directed towards banks in almost any country. The comments posted on that article were interesting as well. Of special interest was the long comment posted by a current bank employee that wanted to assert in nine bullet points that the goal of banking was to make money and profits. I get that.