‘Bank on Dave’

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.

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