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

Figures come as FCA targets unauthorised overdrafts and high-cost lending to people less likely to be able to pay off debt. Katie Allen and Jill Treanor. Mon 31 Jul 2017 14.20 EDT First published on Mon 31 Jul 2017 04.55 EDT. Share on Facebook · Share ...and more »

Ban on unarranged overdraft charges considered by FCA - BBC News

Charges for unarranged bank overdrafts could be banned, under one option being considered by the Financial Conduct Authority (FCA). It said the charges for those who go into the red without agreement can be high and complex. Earlier this month, the UK ...and more »

The UK's financial watchdog wants to review overdraft charges – here's how much UK banks make in fees - Verdict

The UK's financial watchdog, the Financial Conduct Authority (FCA) wants to overhaul the way banks implement unplanned overdraft charges. In its review of high-cost credit, the FCA has said that there needs to be “fundamental changes” in the way that ...and more »

FCA weighs taking action over unarranged overdrafts - Financial Times

The City of London watchdog is considering intervening in unarranged overdrafts in the UK after it found that bank charges are “potentially harmful” to consumers. The Financial Conduct Authority said on Monday that it had “significant concerns” about ...and more »

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

Britain'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 »

A crackdown on payday loans is saving people £150 million a year — overdraft fees could be next - Markets Insider

LONDON — Britain's financial regulator says a crackdown on payday lending is saving vulnerable consumers £150 million a year in fees. The Financial Conduct Authority (FCA) said on Monday that a review of its payday loan price cap, first introduced in ...and more »

Royal Bank of Scotland overhauls unarranged overdraft fees - Financial Times

Royal Bank of Scotland has overhauled its unarranged overdraft fees in a revamp that leaves many customers paying higher charges, a move that comes as the City watchdog this week said it was weighing taking action on unsecured consumer credit.and more »

Here's what an overdraft fee crackdown could mean for UK neobanks - Business Insider

This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. The UK's Financial Conduct Authority (FCA) launched an investigation last November into the fees incumbent lenders charge for ...and more »

High-street banks face ban on rip-off overdraft fees - Evening Standard

High-street banks today faced a ban on the “complex and harmful” unarranged overdraft charges that they slap on the millions of customers who accidentally slip into the red. The threat came in a damning official report from the City regulator. It found ...and more »

Financial Conduct Authority extends cap on payday lenders, but action needed on other sectors - The Independent

The way the critics had it, capping payday lenders' charges would usher in an NHS crisis as overstretched hospitals struggled to deal with an epidemic of broken legs. The move was portrayed as a loan shark's charter that would cut the credit available ...and more »