AA fears credit market excludes customers

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AA fears credit market excludes customers

Mark Huggins, director of financial services for the company, said the population is becoming divided between those who can and cannot receive credit.

He added: "This will further damage the already tarnished reputation of our industry and it is time that the market worked together to offer affordable lending solutions."

Mr Huggins will make an announcement at a conference hosted by thinktank the Institute of Economic Affairs today (March 23rd).

The credit market has also seen proposals for reform to current account management from the Department for Business, Innovation and Skills.

Government proposals will hope to give consumers new rights, enabling them to repay the highest debt first to save money on interest repayments and also allow credit limits to be decided by the customer.

It is estimated by the government that consumers will save £296 million a year from the changes, which are due to come into force in January 2011.

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