Banks in the United Kingdom are now required to refer small businesses to an alternative lender if the decline them for a loan, The Guardian reports. The referral scheme is included in the Small Business Enterprise and Employment Act and applies to the nine biggest banks in the UK. So far, three comparison sites have been approved under the scheme: Funding Options; Business Finance Compared; and Funding Xchange. KPMG has been criticised for its role in the Wells Fargo unauthorised account opening scandal, the Wall Street Journal reports. US Senator Elizabeth Warren, a member of the Senate Committee on Banking, Housing and Urban Affairs, has challenged the bank's auditor to explain why it did not uncover the bank's corrupt practices. Under audit rules, auditors are required to watch for potential fraud. KPMG signed off on the bank's internal controls - its policies and procedures to protect against error or fraud affecting financial statements.