BBA members vote for trade body merger
Members of the BBA have voted for in favour of a new trade association for financial services firms; incorporating the CML, Payments UK, and the UK Cards Association.
"We look forward to working with the other trade associations and to providing a world class service for our members across the banking sector."
94% of its voting membership found in favour of the proposal. In April, 75% of CML members voted in favour.
The proposed consolidation was initially set out by The Financial Services Trade Associations Review as part of an independent review into the effectiveness and efficiency of the financial services trade association landscape.
Plans for the new trade association will now be taken forward by the Interim Main Board of the new trade association.
Anthony Browne, BBA CEO, said: “It is right that our members get effective representation and value for money from their trade associations. The BBA membership has voted 94 per cent in favour of consolidating the BBA as part of a new Financial Services Trade Association.
“We look forward to working with the other trade associations and to providing a world class service for our members across the banking sector.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
