New bank rules must help those in debt
10/06/2010Nearly a million adults in the UK have no form of bank account, meaning debt misery is allowed to build up.
This has led to Consumer Focus’ On the Margins report to call for new banking reforms to help people in debt, along with other vulnerable people like the ill or disabled.
The report shows that these people miss out on the benefits of a bank account, such as being able to pay via Direct Debit, meaning higher bills which heighten their debt risk.
Mike O’Connor, Consumer Focus’ Chief Executive states that “it is another stark reminder that those with less often end up paying more.”
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