New measures to help Brits with finances

Money News

www.moneynews.co.uk > Credit cards > New measures to help Brits with finances

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

New measures to help Brits with finances

A raft of new measures have been introduced by the Department for Business, Innovation and Skills (BIS) and HM Treasury today (November 21st) that are aimed at improving the lot of current account holders across the UK.

Consumer minister Edward Davey said: "The package of measures we have set out will encourage consumers to make better credit decisions and strengthen protection where necessary - particularly for the most vulnerable."

The BIS guidelines include interest rate caps on credit and store cards, tackling unarranged overdraft charges, examining discounted rates for those who take out new store cards, as well as examining the ongoing high cost of borrowing in general.

However, Martin Bamford, chartered financial planner at Informed Choice, recently argued the ongoing record-low level of interest being offered by many lenders is posing a difficult decision for UK savers at present.

He noted rates are unlikely to increase until at least 2013 and therefore the outlook remains bleak for savers at present.

Click here for more banking news
 ADNFCR-323-ID-801217071-ADNFCR

Related News : Credit cards

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet