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Dot ComUnity Credit Union - ISA
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Not yet - but every previous call from Neil has been late in the day...0
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My partner emailed today and received a response to say there is to be another meeting on Friday and they are hopeful the 'voluntary' restrictions will be removed.0
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My partner emailed today and received a response to say there is to be another meeting on Friday and they are hopeful the 'voluntary' restrictions will be removed.
Thanks.
Hopefully their hopefulness will materialise into a positive outcome this time - there seem to have been quite a lot of these meetings with the regulators!
"Hope begins in the dark, the stubborn hope that if you just show up and try to do the right thing, the dawn will come -Anne Lamott"
"If you knew that hope and despair were paths to the same destination, which would you choose? - Robert Brault"
"In reality, hope is the worst of all evils, because it prolongs man's torments - Friedrich Nietzsche"
"I still believe in a place called Hope" - Bill Clinton0 -
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I got a call back from Neil last night.
No news in short - DCU's legal team is making another application to the PRA today.
He has agreed to call again on Tuesday.0 -
Bhamstudent wrote: »Good news. Phone call this evening from Neil - the PRA have agreed to the proposal from DCU and the restrictions will either be lifted on Wednesday next week or at the worst a date for them being removed will be confirmed on Wednesday.Bhamstudent wrote: »I got a call back from Neil last night.
No news in short - DCU's legal team is making another application to the PRA today.0 -
This makes interesting reading:
2014 - Q2
Credit unions are not the same as Banks and Building Societies
The PRA has noted that a number of credit unions are marketing themselves – particularly on their websites – as offering similar services to those offered by banks and/or building societies. The PRA has also noted a number of credit unions stating on their websites that they are subject to a similar regulatory regime to banks and/or building societies. In making these statements, credit unions are misrepresenting their situation and the products and services they can offer their members. Credit unions should consider whether statements on their websites are appropriate and take steps to ensure the description of services offered is accurate.
taken from here: http://www.bankofengland.co.uk/pra/Pages/supervision/creditunions/default.aspx0 -
I got a call back from Neil last night.
No news in short - DCU's legal team is making another application to the PRA today.
He has agreed to call again on Tuesday, QUOTE Bhamstudent
On the other hand,I Received an email from Rob yesterday (the bloke who used to post on here from DotCom in earlier days)
Apparently they have now raised funds ( in his words" in excess of") the Capital required to meet The Capital/ Assets ratio, the money is held by solicitors, and they are awaiting clearance from the regulator.
He has promised to keep me informed, for what that is worth.
How the above squares with what Bhamstudent has been told by Neil is any ones guess.
Does anyone at DotCom really know what is going on?0 -
Rob is the CEO now, isn't he?
But I thought they'd raised funds (in excess of what was required) a couple of months ago, and so this is nothing new? Without breaching any confidential detail of our letters, the sticking point with the regulator was not the level of raised funds?0 -
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