Which? responds to the Queens speech
Comments from the consumer watchdog on the Queens statements on Personal Finance
In response to today's Queen's Speech, Laurence Baxter, Senior Policy Advisor, Which? said: "Which?, formerly Consumers' Association, very much welcomes the announcement of the Consumer Credit Bill, which should give greater protection against unfair lending and create a fairer and more competitive credit market, for example, by making it easier for people to challenge unfair or extortionate credit agreements. We hope it will also improve the government's ability to take action against unscrupulous lenders. "Only transparent information and products will create a truly competitive market. Which? is calling for a raft of measures including: - Credit cards having one way of allocating interest on their cards so that people can better compare rates;
- Sharing of customers' full credit history between lenders to ensure responsible lending;
- Banning the automatic inclusion of Payment Protection Insurance (PPI) in credit quotes which bumps up the cost of the loan without customers realising."
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Date published: 11/24/2004 9:59:18 AM
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