Banks

House of Lords written question – answered on 27th March 2007.

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Photo of Lord Dykes Lord Dykes Spokesperson in the Lords (Europe), Foreign & Commonwealth Affairs, Spokesperson in the Lords (Cap Reform), Environment, Food & Rural Affairs

asked Her Majesty's Government:

What plans they have to consult the United Kingdom commercial banks on a nationwide scheme to cancel all charges on current accounts in credit except the cost of chequebooks and cheque clearing.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

The Government have no plans to consult on such a scheme. The issue of bank default charges is currently subject to an investigation by the Office of Fair Trading (OFT). The OFT is an independent competition and consumer protection authority and considers cases on the basis of the objective information it collects.

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