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Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
Further OFT investigations led to several home improvement organisations agreeing to undertakings mandating their membership of a deposit protection scheme. The OFT agreed that a scheme proposed by Qualitas was acceptable; as a result, Tesco Kitchens & Bathrooms, B&Q, Moben, Kitchens Direct, MFI and Magnet became members of Qualitas in the ...
Double Glazing & Conservatory Ombudsman Scheme. The DGCOS ( Double-Glazing & Conservatory Ombudsman Scheme) is an independent UK regulatory body, whose agenda includes vetting of suppliers, guaranteeing customer access to industry inspectors, and protecting members against unfounded complaints.
The Financial Services Compensation Scheme ( FSCS) is the UK's statutory compensation scheme for customers of UK authorised financial services firms. This means it can step in to pay compensation if a firm is unable, or likely to be unable, to pay claims against it.
An advance-fee scam is a form of fraud and is one of the most common types of confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum. [1] [2] If a victim makes the payment, the ...
The Federal Deposit Insurance Corporation ( FDIC) is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. [7] : 15 The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's ...
The Consumer Financial Protection Bureau ( CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, and other ...
Tenancy deposit scheme (England and Wales) Under the provisions of the United Kingdom Housing Act 2004 every landlord or letting agent that takes a deposit for an assured shorthold tenancy in England and Wales must protect the deposit under an authorised tenancy deposit scheme. The regulations came into effect on 6 April 2007, and were amended ...