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LATEST NEWS & EVENTS Banking reforms in danger of being 'watered down'  The government must not "water down" banking reforms, the Federation of Small Businesses (FSB) has warned the prime minister David Cameron. In a letter to the prime minister, FSB national chairman says next week's publication of the findings of the Independent Commission on Banking (ICB) must not be prejudiced. The ICB, whose findings could have implications for businesses using banking and financial solicitor services, was established by the government to reform the regulation and structure of the banking system. Mr Walker said the promised "radical reform" is at risk of being downgraded to "light touch" regulation after 2015. He argued that a third of businesses are missing out on their growth potential because they are refused credit. "Without urgent and radical reform the banking system will never change and those businesses needed to help pull the recovery onto firmer ground will be left to struggle," Mr Walker said. The chief executive of Santander was photographed after a meeting in Downing Street yesterday (September 7th) carrying papers suggesting that it would be some time before any ICB recommendations could be legislated. Posted by Georgina Price 
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