Government under attack on credit card charges

March 2005
Credit Control;2005, Vol. 26 Issue 3, p51
Trade Publication
The article reports that consumer groups in Great Britain have attacked the Government for refusing to endorse the Treasury Select Committee's recommendations on standardizing credit card charges and full sharing of account data. The country's leading banks and other credit card issuers had been criticized by the committee in February 2005 for using confusing consumers by using different ways of performing their calculations. Standardization would bring certainty, but it would come at the expense of flexibility, innovation and, ultimately, competitiveness and consumer choice, the Department of Trade and Industry wrote to the committee.


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