With the extension of activities by banks and building societies, it is now difficult to demarcate between them. The differences that do still exist are largely due to the historical development of building societies and the purposes for which they were established. Many of the restrictions imposed on building societies have now been removed, but many prefer the freedom afforded to banks and have sought to register themselves under the Banking Act 1987.
This book examines the law relating to banks and building societies, highlighting the differences in the regulation process and activities of the two institutions. It takes a close look at the extent to which they are both governed by the same systems of law, particularly in respect of banker and customer relationships.
Divided into five parts, the book includes coverage of: issues relating to the role of the City of London as a financial centre; the impact of the EU and the creation of a single European market; the law relating to types of customer and contractual implications; methods of payment, including electronic methods and the implications of the transaction of cheques; bank finance and securities, including mortgage finance by building societies for house purcahse.
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