Banks discriminating against the vulnerable, finance expert says

Banks discriminating against the vulnerable, finance expert says
 

Vulnerable members of society, including ethnic minorities and people with disabilities, are being discriminated against by banks, a former board member of the Financial Conduct Authority has said.
Mick McAteer, who now runs the Financial Inclusion Centre, says the regulator has failed to protect the people who can least afford it from being charged excessive amounts for unarranged overdrafts.
The FCA says those living in the most deprived areas are 70% more likely to have to use an unarranged overdraft than those living in deprived areas and when they do so are paying up to twice as much... read more

 
Sunday, 15:25 in Business, Views: 87
Source: Guardian
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