Liberal Democrats in Business
News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum
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Liberal Democrats in Business News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum |
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| Liberal Democrats in Business | <info@libdemsinbusiness.org.uk> | 11th March 2010 |
OFT Must Clamp Down on Anticompetitive Behaviour by Credit Card Companies - Cable12.00.00am BST (GMT +0100) Tue 26th Jul 2005 Commenting on the OFT's decision to write to credit card companies to consult over excessive charges, Liberal Democrat Shadow Chancellor, Vince Cable MP said: "With unsecured debt a staggering £7,080 per adult in this country, it is essential that credit card companies and banks act responsibly. "The OFT must be more active in tackling anticompetitive behaviour by credit card companies. It has a mandate, provided by the Cruickshank report, and must not be afraid to use it. "The OFT must work to make banking products more transparent. Consumers must be able to compare products to ensure they are getting the best deal."
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[ Related News Stories:Mon 2nd Apr 2007: [Credit card companies still taking advantage of the complexity of their product - Cable] Fri 4th Nov 2005: [FSA Must Clamp Down on Payment Protection Insurance Mis-selling - Cable] Tue 19th Oct 2004: [Credit Card Companies Must Stop Recklessly Lending To Young People] Thu 22nd Apr 2004: [Credit Card Charges Still Not Transparent Enough] Tue 16th Mar 2004: [Time Has Come To Tackle Credit Card Complexities - Cable] Thu 18th Dec 2003: [Credit Card Report Blows Gaff On Unnacceptable Practices] Mon 10th Nov 2003: [Credit Card Fraud Great Cause For Alarm] Thu 16th Oct 2003: Published and promoted by Liberal Democrats in Business, 4 Cowley Street, London SW1P 3NB. The views expressed are those of the party, not of the service provider. |
