In the News - Banks
Banks accused of profiting from too complex accounts
High Street banks have attracted a fresh round of criticism from the Office of Fair Trading (OFT) after the OFT accused them of making more than £8.3 million from current accounts that are too complex and fail to offer customers transparency. Many bank customers reportedly do not know how much they actually pay in bank charges, either before or after they are incurred.
The criticism follows accusations made by the OFT last year that banks were misleading customers over penalty charges for unauthorised borrowing (reported in 'In the News' on 16 November 2007).
(Sources: Telegraph.co.uk)
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16-Jul-2008 11:30:17
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