HSBC credit card compensation bill could rise to £11m

HSBC extends scheme to extra 18,500 customers overcharged on debt paymentsHSBC is expected to pay out millions more in compensation to credit card customers who were overcharged when they fell behind with payments. The bank has already paid out around …

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UK’s problem debtors to get 60-day ‘breathing space’

Treasury unveils two months free of hassle from creditors with interest and fees frozen to help control financesPeople struggling with serious debt are to benefit from a new two-month “breathing space” during which they cannot be hassled by debt collec…

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Payday lenders being ‘bombarded’ by spurious claims

Compensation firms said to be looking for next big earner after PPI claims expireCompensation claims management firms looking for the next big earner after the PPI scandal have been accused of bombarding the much-criticised payday lending sector with c…

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City regulator bans high overdraft fees to reform ‘dysfunctional’ market

Vulnerable consumers are disproportionately hit by excessive charges, says FCAThe City regulator has accused UK banks of causing “significant harm” to their most vulnerable customers as it pushes ahead with a ban on excessive overdraft fees.The Financi…

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Hope for ‘mortgage prisoners’ as MPs and regulator act to free them

Thousands of homeowners whose banks collapsed in the financial crisis have been unable to move to a cheaper dealThousands of mortgage customers of now-defunct banks who had their loans sold on after the financial crisis are hoping new moves by regulato…

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