A cap on excessive interest rates considered by government

A cap on excessive interest rates charged on credit and store cards is being considered as part of a review of consumer borrowing.

The government wants experts’ views on how consumer credit, such as credit cards and store cards, can be fairer.

This includes discussion on whether the regulator will be able to put a limit on high interest rates charged to those who might have difficulty repaying.

Bank charges and personal insolvencies are also covered by the review.

Read the full article here

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s