British Bankers’ Association to vote on rival trade body merger

Business-Handshake-Finance-Deal-700.jpgThe British Bankers’ Association is set to vote today on plans to merge with rival trade bodies.

Sky News understands that the banking association is planning to vote today on plans become part of a mega merger of trade bodies, which will represent the broader financial services industry.

Other trade bodies have voted to merge with rivals, including the Council of Mortgage Lenders, but the BBA will need three-quarters of its members to approve the merger.

The merger would include the CML, the Asset Based Finance Association and the Finance and Leasing Association. The Building Societies Association has already opted out of the merger.