Barclays - BIS consumer credit response

[Amethyst]

Question 8 annex d = Bank Charges - Barclays view on their personal reserve account

Question 1 annex A = barclaycards advertising and compliance

Question 8 - annex C = bank charges - implementation of lending code etc

[leclerc]

Re: Barclays - BIS consumer credit response

"Against the backdrop of the Bank Charges test case and the OFT dual inquiry Barclays set out three years ago to test its customer base as to what alternative service they required if Barclays was to introduce an alternative to unarranged overdrafts. The response was that customers did not want to be left with the US model of pay/no pay only"

When the hell did this happen?

[EXC]

Re: Barclays - BIS consumer credit response

"Against the backdrop of the Bank Charges test case and the OFT dual inquiry Barclays set out three years ago to test its customer base as to what alternative service they required if Barclays was to introduce an alternative to unarranged overdrafts. The response was that customers did not want to be left with the US model of pay/no pay only"

When the hell did this happen?

Indeed. Considering Barclays are replying to a 'call for evidence', the lack of any evidence to support this is notable.

[leclerc]

Re: Barclays - BIS consumer credit response

Indeed. Considering Barclays are replying to a 'call for evidence', the lack of any evidence to support this is notable.

Furthermore, the US model was very very recent so the fact they state they looked at this 3 years ago, I think is a pile of hogwash!

FRB: Press Release--Federal Reserve announces final rules prohibiting institutions from charging fees for overdrafts on ATM and one-time debit card transactions--November 12, 2009
It was announced less than 2 years ago.

[EXC]

Re: Barclays - BIS consumer credit response

Furthermore, the US model was very very recent so the fact they state they looked at this 3 years ago, I think is a pile of hogwash!

It was announced less than 2 years ago.

Not just that:

''The final rules are effective July 1, 2010.''

[leclerc]

Re: Barclays - BIS consumer credit response

Absolutely, they gave firms a period of time to comply with the rules.

[Amethyst]

Re: Barclays - BIS consumer credit response

And Question 7 - barclays response to proposals for changes to consumer credit act.

Apologies for format PDF was too big so had to make it into jpgs 4 pages per image.

[Amethyst]

Re: Barclays - BIS consumer credit response

Question 7 Annex B Barclays

Page 1 -5


(17 pages in all bear with me lol)

[The Debt Star]

Re: Barclays - BIS consumer credit response

Sharkleys, Sharkleys, Sharkleys... how I hate you.

[leclerc]

Re: Barclays - BIS consumer credit response

"Against the backdrop of the Bank Charges test case and the OFT dual inquiry Barclays set out three years ago to test its customer base as to what alternative service they required if Barclays was to introduce an alternative to unarranged overdrafts. The response was that customers did not want to be left with the US model of pay/no pay only"

When the hell did this happen?

My suspicion is that there was a target group but if you are faced with a room full of people who receive no charges and have an overdraft and are asked do you want your bill paid even if it takes you over the overdraft or not that you would say yes because you would be more concerned of having an item returned. However, if you asked a target group who regularly went over their overdraft whether they wanted a pay/no pay solution you would find that they would provide a no pay response, ie the people it would affect the most.

[jebedee]

Re: Barclays - BIS consumer credit response

And Question 7 - barclays response to proposals for changes to consumer credit act.

Apologies for format PDF was too big so had to make it into jpgs 4 pages per image.

Is this http://www.hm-treasury.gov.uk/consult_finreg_blueprint.htm the follow up to the consultation to what Barclays has responded to? If not then if you read this it will help you sleep.