UK banks asked to explain 40% overdraft rates

UK banks asked to explain 40% overdraft rates

UK’s financial regulator, Financial Conduct Authority (FCA), has asked Britain’s biggest banks to explain how they have decided their new overdraft rates. Santander, Lloyds Banking Group and HSBC and several others are set to bring in a 39.9% rate this year. The FCA has also asked how the banks will deal with any customers who could be worse off following the changes.

Clara
Clara
Rhokanth
Rhokanth 1 months

Remember when Christianity opposed interest?

npc8472
npc8472 1 months

Banksters will be banksters.

michael zubas
michael zubas 1 months

Usury must end.

Dave
Dave 1 months

Explain them? They're bankers.

anthony
anthony 1 months

WTF! How'd they come up with that number?

Craig
Craig 1 months

a bank bilking customers??? how could this happen? ha ha ha ha ha ha ha.

TehChuckles
TehChuckles 1 months

In the generation of Consume now, Think later. this is going to screw up some drunk kids high.

Dawlben
Dawlben 1 months

Can they turn off overdraft on their accounts?

White mana matters
White mana matters 1 months

What the actual f?

.....
..... 1 months

It's long overdue since the last time bankers were rounded up and hung.

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