News

Give Customers Fairer treatment - Apr 08

Banks and Building Societies have agreed a "new deal" with the public promising to treat customers fairly and reasonably, in a voluntary banking code introduced yesterday.

The promise comes in the aftermath of accusations of reckless lending criticisms that banks have shut down the accounts of customers who have made valid complaints.

The code has eight key commitments, including a pledge to provide more help for customers in financial difficulties; clearer information about unsecured loans and savings; greater clarity on credit cards; and information on how to find lost accounts.

Announcing the code, Angela Knight, chief executive of the British Bankers Association, said "This new banking code gives strong commitments that banks will lend responsibly and will help customers who may be heading towards financial difficulties"