Credit card providers appeal against Lords ruling
Posted by ~Ray @ 2008-10-13 06:18:08
providers are appearing in the House of Lords to appeal against a ruling which would give consumers the same protection when using their credit cards abroad as they get in the UK. The Consumer Credit Act proposes that the same cover applies when Brits buy damaged goods abroad as at home. Current regulations state that credit card holders in Britain are covered on goods worth anywhere between £100 and £30,000. Eric Leenders of the British Bankers’ Association told the BBC: "Clearly it is far more difficult for the lender who can obtain redress in turn from the supplier on the borrower’s behalf effectively to do that overseas."The Office of Fair Trading (OFT) and the Court of Appeal brought the hearing which is expected to last three days. Banks’ pricing structures are currently being investigated by the OFT in a comprehensive study due to be published by the end of the year.
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Copyright © 2008 Thrifty Scot · · · · · · ·
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
*None of the information contained in this website constitutes nor should be construed as Financial Advice.
Copyright © 2008 Thrifty Scot · · · · · · ·
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
*None of the information contained in this website constitutes nor should be construed as Financial Advice. [ADVERTHERE]Related article:
http://www.thriftyscot.co.uk/Finance-News/102007/credit-card-providers-appeal-against-lords-ruling.html
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