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Fca Crackdown On Uk Overdraft Fees - Latest News

FCA crackdown on UK overdraft fees

The Financial Conduct Authority has stated its plans for a complete overhaul to the UK’s overdraft fees, chief executive for the country’s financial watchdog claiming the current system that both ... read more

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Tandem says FCA Crackdown on Overdraft Fees is Long Overdue

Challenger Bank Tandem issued a statement saying it was about time: “The FCA’s crackdown on overdraft fees is long overdue ... consumers and adding to the debt spiral many people in the UK ... read more

Under fire FCA gets back on front foot with overdraft crackdown

This sort of policy work can take time (overdraft fees have been a sore point for years), but the FCA is, as a rule, fairly good at it. Campaigners I have spoken to have also given it high marks for ... read more

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FCA cracks down on banks’ big overdraft fees

Steep overdraft fees for accidentally moving into the red are to be phased out under new rules imposed by the Financial Conduct Authority (FCA). From April 2020, all banks and building societies will ... read more

Banks to be banned from charging ‘rip-off’ overdraft fees in FCA crackdown

Banks will be banned from charging “rip-off” unarranged overdraft ... fees, with those people disproportionately living in deprived areas. The fees can be more than 10 times as those for payday loans ... read more

Overdraft fee crackdown: the worst offenders among top accounts

The Financial Conduct Authority (FCA) today announced a major shake-up of overdraft charges, aimed at fixing a “dysfunctional” market earning banks £2.4bn a year. Overdraft fees vary widely. Even if ... read more

Ban on overdraft fixed fees planned by regulator in a "radical" crackdown on banks' punitive charges

Banking customers will no longer be shown daily or monthly fees for overdrafts in a new crackdown by the ... chief executive of the FCA says: “Today we are proposing to make the biggest intervention ... read more

Millions of households could see the cost of debt fall as the financial watchdog launches a crackdown on high-cost credit and overdraft fees

Millions of households who use overdrafts and high-cost credit could gain greater protections after the watchdog today announced a crackdown on lenders. The changes proposed by the FCA are designed .. read more

Banks are facing a crackdown on rip-off overdraft fees

Banks are facing a crackdown on rip-off overdraft ... can be hit by fees as high as £8 a day even if they have gone over set limits by less than £1, which critics say can easily happen by mistake. The ... read more

Overdraft fee crackdown: the banks that charge the most when you spend too much

The FCA is considering changing how it regulates overdrafts. It could order lenders to send text messages to borrowers to warn them of overdraft charges, and ban fixed fees for going overdrawn. read more

Finance organisations say FCA crackdown on high-cost credit is 'a long time coming'

The finance watchdog must put its money where its mouth is in a proposed crackdown on high-cost lending, according to finance professionals. Following its review into high-cost credit, the Financial ... read more

New crackdown on high-cost credit charges

FCA chief executive Andrew Bailey said: "High-cost credit is used by over three million consumers in the UK, some of who are ... option of banning fixed fees. Mr Bailey added: "Our immediate proposed ... read more

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