Clegg on bank charges

[EXC]

(Today) ''The Lib Dems will focus on the consumer, with Nick Clegg due to give a speech calling for an end to painful charges levied by banks on customers who exceed their overdraft limits.''

BBC News - Election 2010 - Live coverage - General Election 2010

[natweststaffmember]

Re: Clegg on bank charges

Clegg vows to curb 'unfair' charges

Source PA News
Updated on 09 April 2010

The Liberal Democrats are to pledge to stop banks charging excessive penalties for customers going over their overdraft limit.
The party's manifesto for consumers will also contain measures to limit charges for bouncing a cheque and cap the interest rates on credit cards.
Lib Dem leader Nick Clegg said banks should not be allowed to "profiteer" from people making small mistakes. The move follows a legal victory for the banks last year which prevented the Office of Fair Trading investigating their overdraft charges.
Launching the policy Mr Clegg said the banks had a "moral obligation" to repay the money.
He said: "A Liberal Democrat government will legislate to ensure that no bank can charge its customers unfairly for going over their limit or bouncing a cheque.
"Banks should, of course, be able to pass on the costs they incur in dealing with these problems. But they should not be able to profiteer from customers making small mistakes. We will outlaw unfair charges from now on.
"Bank bosses should look to their consciences and give back the money they took from their customers in unfair charges. It can't be right that someone who buys just a few items can end up being charged hundreds of pounds in unfair fees. I believe bank bosses have a moral obligation to pay that money back.
"If they had a shred of moral decency, they would never have imposed these charges and they would never have refused to pay them back.
"Together Barclays, Lloyds, HSBC and RBS have given out more than £7 billion in bonuses in the last year alone. How can they refuse to return a few hundred pounds they wrongly took from people struggling to make ends meet from week to week?"
Mr Clegg will be back on the road, launching his party's campaign in Wales with a visit to Cardiff. He will then head to Birmingham and Leeds before ending the day in his Sheffield constituency.


Clegg vows to curb charges - Channel 4 News




Politicians will say anything to get elected......remember the Monster Raving Looney Party suggesting pet passports in the 1960's...where did that ever get them :o

[PocketTheDifference]

Re: Clegg on bank charges

Pet Passports, Oh Gawd, Although this Banking thing, I would have imagined more poloticians using this to their advantage, being as a huge amount of the population claiming, it would probably swing a vote.
OPB