The Government has published its vision of the building society sector, stating how recommendations of the Independent Commission on Banking (ICB) will apply to the sector. The document confirmed the Government's support for building societies and said it will consider removing any potential lending and funding restrictions. Graham Beale, chief executive of Nationwide Building Society, said: "As the largest building society, Nationwide is unique on the high street, providing a mass-market, mutual challenge to the banks across the full range of retail financial services. The Government's commitment to review and revise building society legislation to support these aims is a positive step forward."
moneyfacts.co.uk
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