‘Bank on Dave’
12/07/2012 Leave a comment
Is this the solution to our banking troubles?
Dave Fishwick, has tried to set up his own bank. Only he can’t call it that, because he hasn’t got a banking license from the FSA – it’s actually the Burnley Savings and Loans Company, and its ‘depositors’ are really peer-to-peer lenders, since they are not protected by Government deposit insurance.
He’s successfully lending £25,000 a month from local savers to local businesses.