For ages and ages, since the start of the recession, banks and building societies have paid miniscule amounts of interest to savers, despite the fact that when they lend that money they charge considerably higher amounts to the borrower.Many mortgage lenders now add what they call a product or arrangement fee and this is often part of a scheme to reduce, by a small amount the interest charged. It seems to me that this is just another way of increasing profitability. I gather that some of these institutions won’t refund the fee if the mortgage doesn’t proceed.There is no doubt that the banks and building societies are raking in money from their clients but not paying it to their savers. It is high time that steps were taken to regulate banks and building societies. It sticks in my throat that millions are paid to their staff in bonuses (mainly in the banking world) yet the return to the saver is so paltry.