It’s been reported this week that some of the major banks may challenge the recent court ruling which said the OFT can investigate and influence the fees they charge for overdrafts. The banks make an estimated £3.5 billion per year from charging customers who go overdrawn without permission. An appeal could lead to a decision being delayed for months.
Wonga will soon be offering short term loans more conveniently and flexibly than other online lenders. They won’t be cheap loans – interest will be charged at 1% a day – but you will only borrow cash for between five and thirty days. And that’s a crucial point. It’s a short term loan you pay back on a date that suits.
It’s been reported that financial giant HSBC has lost a server containing the personal details of over 150,000 customers in Hong Kong. It’s the latest in a seemingly never-ending string of reports about ‘secure’ files going walkabout. It’s not so long ago that the bank also lost the details of more than 350,000 British life assurance customers and it’s not the only high profile organisation to come under fire for poor security.
An article on thisismoney.co.uk paints another gloomy picture of Britain’s economy today, with poor growth in the services sector and a dissapointing bank holiday weekend for retailers…
A recent BBC article highlighted new figures from CIFAS, the UK’s fraud prevention agency, which show that more people are lying in applications for loans and credit cards in the hope of covering up a poor credit history…
