Asda survey finds banks act "irresponsibly"
www.moneynews.co.uk > Loans > Asda survey finds banks act "irresponsibly"
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Money News |
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Asda survey finds banks act "irresponsibly"
Thu 26th Feb 2009
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However, the supermarket bank found that just four per cent of people think it is the bank's sole responsibility to ensure that customers will be capable of paying back mortgages and loans.
Many people (40 per cent) think it is down to individuals to work out if they can afford loans and 36 per cent said the responsibility should be shared between banks and individuals.
Gev Lynott, financial services director at Asda, said: "It's no surprise that trust in banks has fallen sharply over recent months.
"However […] we are pleased to see such a high proportion accepting that [taking on credit] is their responsibility."
Recently another supermarket loans provider, Sainsbury's Bank, revealed it has cut the rates of interest on its loans.
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