On 23rd October 2017 Lord Haskel asked Her Majesty’s Government “what steps they are taking to deal with the concerns of the Money Advice Service and the Financial Conduct Authority about the level of consumer and personal debt in the United Kingdom.” The Bishop of St Albans, Rt Revd Alan Smith, asked a follow up question:
The Lord Bishop of St Albans: My Lords, a poll commissioned by Citizens Advice in June found that 18% of people with credit cards who had debt problems had had their credit limits increased automatically without them even asking for it, thereby enabling them to take on even greater debt when they were already facing problems. I understand that the FCA is looking into this, but will the Minister ensure that it is asked to bring in much stronger guidelines on this situation to prevent it getting worse?
You must be logged in to post a comment.