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Tag Archives: interestrates

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FCA urged to crackdown on banks overcharging borrowers

Due DiligenceBy Haleema AliJanuary 21, 2022Leave a comment

The UK government faces growing pressure to toughen the rules on lenders charging a majority of customers higher interest rates than originally advertised. As outlined by the FCA, banks and other regulated lenders must offer rates as advertised, to at least 51% of their borrowers. This measure is intended to prevent people from accepting ‘attractive’…

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