Walking the credit card tightrope
Credit card companies in Britain last month agreed to halve many penalty charges after a clampdown by the British consumer regulator, the Office of Fair Trading (OFT).
Their decision followed an ultimatum in April by John Fingleton, the head of the OFT. Fingleton, who left Ireland’s Competition Authority in 2005 to take up his position in the OFT, found that British cardholders were being hit with more than €444 million (stg£300 million) a year in illegal charges. He told credit card companies to reduce their penalty charges or risk court action.
Credit card penalty charges - also known as default...
Subscribe from just €1 for the first month!
What's Included
With any subscription you will have access to
-
Unlimited multi-device access to our iPad, iPhone and Android Apps
-
Unlimited access to our eReader library
-
Exclusive daily insight and opinion seven days a week
-
Create alerts to never miss a subject that matters to you
-
Get access to exclusive offers for subscribers on gifts and experiences
-
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Related Stories
The year in review
The best writing and and the biggest stories of 2019 from the Business Post
Newsround: What Thursday’s papers say
Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals
More cycle routes, expansion of Luas to Bray and new bus network proposed
Greater Dublin Area draft Transport Strategy published
