Following on from our recent article looking into the developments surrounding information in our credit report, it has never been more easy to take control of your finances. If you are looking to close a credit account to apply for a mortgage you need to read this.

The Financial Services Authority have said that Bank of Scotland failed to have adequate risk management systems in place during January 2006 and March 2008 and failed to control it’s investment affairs which led to the UK government bailing out the bank

The FSA judged that the firm was guilty of serious misconduct, which contributed to the circumstances that led to the UK government having to inject taxpayer funding into HBOS.