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RBS's 800% interest for 16 days in the red: Bank named as having the most expensive unarranged overdraft as ... - Daily Mail;

RBS's 800% interest for 16 days in the red: Bank named as having the most expensive unarranged overdraft as ... - Daily Mail

Daily MailRBS's 800% interest for 16 days in the red: Bank named as having the most expensive unarranged overdraft as ...Daily MailHigh street lenders are charging customers up to 800 per cent interest for accidentally breaching their overdraft limit, it emerged yesterday. The City watchdog named Royal Bank of Scotland as having the most expensive unauthorised overdraft as it ...and more »

Christians Against Poverty welcomes proposals to ban unauthorised overdraft fee - Premier;

Christians Against Poverty welcomes proposals to ban unauthorised overdraft fee - Premier

PremierChristians Against Poverty welcomes proposals to ban unauthorised overdraft feePremierCharges for unarranged bank overdrafts could be banned, under an option being considered by the Financial Conduct Authority (FCA). The chief executive of the UK's City Watchdog Andrew Bailey, stated that he had "clear concerns" about the costs of such ...and more »

Banks in spotlight as Financial Conduct Authority sets its sights on overdrafts - City A.M.;

Banks in spotlight as Financial Conduct Authority sets its sights on overdrafts - City A.M.

City A.M.Banks in spotlight as Financial Conduct Authority sets its sights on overdraftsCity A.M.The Financial Conduct Authority (FCA) has shifted its gaze from payday lenders to overdraft providers, as the regulator set out its agenda for consumer credit this morning. Read more: No let up in consumer credit growth as the Bank of England eyes ...and more »

FCA's sheriff rattles banks with probe of overdrafts - Financial Times;

FCA's sheriff rattles banks with probe of overdrafts - Financial Times

Financial TimesFCA's sheriff rattles banks with probe of overdraftsFinancial TimesThe Financial Conduct Authority used to patrol the boardrooms on its turf with the swagger of frontier sheriffs. Former chief executive Martin Wheatley notoriously promised to “shoot first and ask questions later”, before a political backlash deprived ...and more »

Ban To Be Considered For Unarranged Overdraft Charges - LADbible (blog);

Ban To Be Considered For Unarranged Overdraft Charges - LADbible (blog)

LADbible (blog)Ban To Be Considered For Unarranged Overdraft ChargesLADbible (blog)Charges for accidentally going into your overdraft may be outlawed, according to the Financial Conduct Authority (FCA). The regulator is considering banning unarranged overdraft fees, which penalise those who go into the red without prior consent of ...and more »

FCA Says High Overdraft Fees Are Consumer Credit Priority - Law360 (subscription)

FCA Says High Overdraft Fees Are Consumer Credit PriorityLaw360 (subscription)Law360, London (July 31, 2017, 4:42 PM BST) -- Fundamental reforms to the way in which banks provide unarranged overdrafts to customers in the U.K. may be needed, the Financial Conduct Authority said on Monday after its assessment of retail banking ...and more »

FCA keeps payday loan cap after review - Out-Law.com

FCA keeps payday loan cap after reviewOut-Law.comIn its response to a call for input (72 page / 1.86MB PDF) into its review of high-cost credit products, the FCA said there was evidence that the cap on the fees charged for high-cost short-term credit (HCSTC) loans – often described as 'payday' loans ...and more »

FCA Calls for Radical Action Against Unarranged Overdraft Fees - Money Expert (blog);

FCA Calls for Radical Action Against Unarranged Overdraft Fees - Money Expert (blog)

Money Expert (blog)FCA Calls for Radical Action Against Unarranged Overdraft FeesMoney Expert (blog)The City watchdog is considering a range of options to protect customers against sky-high fees typically attached to unarranged overdraft use. Customers who go overdrawn without prior agreement with the bank often face daily charges of up to £6. Banks ...and more »

How much do UK banks make from overdraft charges? - Verdict;

How much do UK banks make from overdraft charges? - Verdict

VerdictHow much do UK banks make from overdraft charges?VerdictUnplanned overdraft charges vary from bank to bank and can be confusing to understand. For instance, HSBC customers can be charged between £10 and £80 for having an unplanned overdraft. The bank is implementing a new cap on unplanned overdraft ...and more »

Watchdog calls for 'fundamantal reform' of overdraft charges - ExpressNewsline;

Watchdog calls for 'fundamantal reform' of overdraft charges - ExpressNewsline

ExpressNewslineWatchdog calls for 'fundamantal reform' of overdraft chargesExpressNewslineOverdraft fees are also of concern. Lloyds Banking Group, the biggest current account provider in the United Kingdom, earlier this month overhauled its charging structure, abandoning all existing charges for overdrafts and replacing them with a single ...and more »

Bank account overdraft fees: How big charges for going over your limit could be SCRAPPED - Express.co.uk;

Bank account overdraft fees: How big charges for going over your limit could be SCRAPPED - Express.co.uk

Express.co.ukBank account overdraft fees: How big charges for going over your limit could be SCRAPPEDExpress.co.ukRIP-OFF overdraft fees could soon be axed after the industry regulator today said banks are charging too much. By Lana Clements. PUBLISHED: 15:02, Mon, Jul 31, 2017 | UPDATED: 15:11, Mon, Jul 31, 2017. Bank current account overdrafts GETTY.and more »

Unsecured consumer credit tops £200bn for first time since 2008 - The Guardian;

Unsecured consumer credit tops £200bn for first time since 2008 - The Guardian

The GuardianUnsecured consumer credit tops £200bn for first time since 2008The GuardianThe FCA found that one in six people with debt on credit cards, personal lending and car loans were in financial distress. Photograph: Matt Cardy/Getty. Financial Conduct Authority. Unsecured consumer credit tops £200bn for first time since 2008 ...and more »

Unarranged overdrafts could soon be banned as regulator vows to crack down on

Unarranged overdrafts could soon be banned as regulator vows to crack down on "exorbitant fees" for consumers - Mirror.co.uk

Mirror.co.ukUnarranged overdrafts could soon be banned as regulator vows to crack down on "exorbitant fees" for consumersMirror.co.ukThe City Watchdog has slammed banks for outrageous charges on unnarranged overdrafts – but has immediately come under fire for failing to do anything about it. The Financial Conduct Authority's review of high-cost credit concluded that “fundamental ...and more »

Financial regulator says overdraft fee cap may not solve current account concerns - The Independent;

Financial regulator says overdraft fee cap may not solve current account concerns - The Independent

The IndependentFinancial regulator says overdraft fee cap may not solve current account concernsThe IndependentBritain's financial regulator said fundamental reform of unarranged overdrafts was needed as it had significant doubts about whether they could continue in their current form and a cap on fees may not be the answer. MPs have questioned whether banks ...and more »

Financial regulator set to crackdown on unarranged overdrafts and car loans - The Money Pages;

Financial regulator set to crackdown on unarranged overdrafts and car loans - The Money Pages

The Money PagesFinancial regulator set to crackdown on unarranged overdrafts and car loansThe Money PagesThe Financial Conduct Authority is cracking down on charges for unarranged overdrafts and car loans following its review into high cost credit. atm-pin. Charges for unarranged overdrafts are often high after taking into account the risks to lenders ...and more »

Regulator Considers Measures Against Unplanned Overdraft Fees - London South East (registration) (blog)

Regulator Considers Measures Against Unplanned Overdraft FeesLondon South East (registration) (blog)LONDON (Alliance News) - The UK's Financial Conduct Authority said Monday it has decided to maintain its price-cap on payday loans, and that it may consider banning unarranged overdrafts. The FCA said it found clear evident that its regulation of ...and more »

Finance regulator concerned over unarranged overdraft fees - Your Money;

Finance regulator concerned over unarranged overdraft fees - Your Money

Your MoneyFinance regulator concerned over unarranged overdraft feesYour MoneyThe financial regulator said fundamental changes to the way unarranged overdrafts are provided may be necessary as part of its review into high-cost credit. The Financial Conduct Authority (FCA) has today published the findings of its payday loan price ...and more »

FCA extends credit assessment rules for P2P platforms - Newburgh Gazette;

FCA extends credit assessment rules for P2P platforms - Newburgh Gazette

Newburgh GazetteFCA extends credit assessment rules for P2P platformsNewburgh GazetteThe FCA said it would maintain a current cost cap in the payday loan sector and warned of more work to monitor charges for arranged and unarranged overdrafts. As well as high overdraft fees, the FCA has also voiced concerns about catalogue credit, ...and more »

FCA echoes BoE's worry over consumer credit - Portfolio Adviser;

FCA echoes BoE's worry over consumer credit - Portfolio Adviser

Portfolio AdviserFCA echoes BoE's worry over consumer creditPortfolio AdviserThe Financial Conduct Authority (FCA) has echoed the Bank of England's recent concern over escalating levels of consumer credit in the UK. Print · FCA echoes BoE's worry over consumer credit. The watchdog said its cap on payday lending had saved some ...and more »

FCA crackdown on overdraft fees as banks warned - Coventry Telegraph;

FCA crackdown on overdraft fees as banks warned - Coventry Telegraph

Coventry TelegraphFCA crackdown on overdraft fees as banks warnedCoventry TelegraphEnter your postcode to see news and information near you Community updates, Crime Statistics, Local News & Events and much more... Play Video. Play. Mute. Current Time 0:00. /. Duration Time 0:00. Loaded: 0%. Progress: 0%. Stream TypeLIVE.and more »