- Consumers are supposed to be reimbursed if they are victims of shopping fraud
- Banks do not feel they should be on the hook for these scams
- The watchdog which oversees the refund code said watering down any protection
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5corpio started a blog post Banks warned against scrapping protections for online shopping scamin 5corpioBanks warned against scrapping protections for online shopping scam
..........victims amid fears they want to stop paying out for purchase fraud -
Banks and shops roll out new anti-fraud measures
Have you been asked by your bank recently to input a one-time passcode in order to complete an online transaction? It seems more and more of us have, as lenders and credit card companies gradually start to roll out new measures to reduce card fraud known as Strong Customer Authentication (SCA). On Monday,... -
Bank scam victims 'shouldn't be blamed for money lost'
Banks have been warned that it's "not fair" to automatically blame customers for money lost through a scam. Last year, customers transferred nearly £240m to fraudsters, only a quarter of which was refunded by financial firms. The Financial Ombudsman service said fraudsters' growing sophistication... -
Two-day wait for 'instant' payments after fault
Some payments that should have been processed within two hours have taken nearly two days owing to a backlog following a system failure. Bank customers have been pushed into overdrafts owing to the fault in the Faster Payments system used by most of the UK's banks and building societies. The shutdown... -
FCA boss: 'No such thing as free banking'
Up to half of the profits made by big banks from current accounts come from just one in 10 customers, according to the industry regulator. Customers with overdrafts, which are more profitable than other types of credit, are particularly lucrative. A report by the Financial Conduct Authority (FCA) said... -
Customer choice under threat at Britain's banks
Until this year, things were looking up for the new generation of banks trying to make their way in Britain's notoriously tough banking market. But the woes of TSB have raised a question mark over their future. The financial crisis massively reduced the choices available to British customers, as weaker... -
5corpio started a blog post British banks ordered to help people pay off credit card debtsin 5corpioBritish banks ordered to help people pay off credit card debts
LONDON (Reuters) - Britain's Financial Conduct Authority ordered banks on Tuesday to take steps to help people with persistent credit card debt to keep up with repayments. The FCA's new rules will, however, will still allow banks to ultimately suspend a credit card if a customer fails to make any progress... -
Banks cut back consumer credit in fear of rising risks
Banks are clamping down on credit cards and other unsecured lending as fears grow that the boom in household debt could turn into a bust that could destabilise the financial system and force consumers into bankruptcy. New figures from the Bank of England show banks cut back the availability of loans... -
Why banks will share your financial secrets
Your financial information, such as what you spend and where, and how often you go into debt is private. It is information only available to you and your bank. It has been like that for years, but all that is about to change. Customers of nine of the biggest UK banks have received letters and emails... -
Banks should end unplanned overdraft charges, charity says
Banks should end all unauthorised overdraft charges because they are trapping people in persistent debt, the financial charity StepChange has said. The organisation also wants banks and regulators to do more to identify people caught up in a "vicious cycle of borrowing".Even where customers... -
Banks consider 555 fraud 'hotline'
Victims of financial fraud might soon be able to call for help via a new telephone hotline, similar to the 999 emergency service. Under the plan anyone worried about scammers would be able to dial 555. The idea - which is in its early stages - is being examined by Financial Fraud Action UK, and has... -
Italy forced to bail out two more banks for 5.2bn euros
Italy's government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn). The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail. The banks' "good" assets will be taken... -
MisterK UE Diary
Here is my diary at last.
(A little local difficulty getting the username agreed with MrsK, but everybody's happy now I'm pleased to say).
About six years ago, in need of some help and well before I found AAD, I paid some money over to some CMC's to get "certificates of...Last edited by MisterK; 30 April 2017, 09:04. -
PRA GROUP (UK) LIMITED v DIANA MAYHEW - WIN
‘“RECONSTITUTED AGREEMENT” – IRREDEEMABLY UNENFORCEABLE”
“UNREDACTED DEEDS OF ASSIGNMENT – NO ASSIGMENT PROVED”
So, held Recorder Bellamy in PRA Group (UK) Limited v Mayhew at Central London County Court on 22nd March 2017, at the end of a 3 day multi track... -
Let the fun commence - 6 year journey starts here!
Hi guys and gals
After a lot of researching and googling, i have decided to make nest on AAD
I will list my debts soon, but to summarise i have 8 debts totalling around £35,000 (Eeeek!). It was £42,000 but i was diligently paying into a DMP via Stepchange for the last...