December 18, 2018 BY Valentina Kirilova

FCA to reform the way banks charge for overdrafts

The Financial Conduct Authority (FCA) has just announced that it intends to change how banks charge for overdrafts. Alongside this, the FCA will extend protections for other high-cost credit products. Andrew Bailey, Chief Executive of the FCA commented: Today we are proposing to make the biggest intervention in the overdraft market for a generation. These…

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