SMEs’ rising use of credit cards spells trouble for the UK economy Opinion More and more small businesses are becoming reliant on credit cards, and it's the whole economy that will suffer, writes Rob Burlison.
Regulator set to limit card fees after Visa and Mastercard price hikes Banking The UK’s payments regulator has confirmed plans to introduce price caps on card fees paid by British merchants when European consumers make online purchases, after Visa and Mastercard hiked prices post-Brexit. After proposing some restrictions a year ago, the Payment Systems Regulator (PSR) is moving ahead with a consultation to decide at what level they [...]
TSB Bank handed huge fine for failing customers in arrears Banking The financial watchdog has fined bank TSB almost £11m over its treatment of customers, but the penalty could have been even worse. TSB Bank will have to pay £10,910,500 after the Financial Conduct Authority (FCA) found it had failed to ensure customers in arrears were treated fairly. The FCA said it also didn’t have sufficient [...]
UK lenders must do more to support people in debt, ombudsman chief says September 19, 2024 The head of the UK's financial ombudsman has urged lenders to do more to help consumers struggling with debt after a surge in official complaints.