New clause 3 - CREDIT TOKENS
Consumer Credit Bill
6:00 pm
Charles Hendry (Shadow Minister, Trade & Industry; Wealden, Conservative)
We want to make lenders more responsible. The banking code rules have been tightened to cover some of the relevant issues. Can the Minister confirm that the cheques can no longer be issued to people who are nearing their credit limit or struggling to pay? Those are the sort of assurances that we want. Will he also consider the idea that customers should have to opt into receiving credit card cheques, rather than opting out of them? At the moment, when they enter a new credit card agreement, they must say, ''I do not want to receive these.'' That means that they can be sent without ever being requested.