Financial Conduct Authority to crack down on charges for unarranged overdrafts

Financial Conduct Authority to crack down on charges for unarranged overdrafts
 

The review into high-cost credit found “concerns” and warned that “fundamental changes” in the way such bank overdrafts are provided are necessary. 
It said charges for unarranged overdrafts were often high and can be complex and difficult for consumers to understand. 
FCA chief executive Andrew Bailey said: "High-cost credit products remain a key focus for us because of the risks they pose to potentially vulnerable customers.
"We are pleased to see clear evidence of improvement in the payday lending market after a period when firms' treatment of customers and their business... read more

 
1 August 2017 in Business, Views: 56
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