Banks to Face Curbs On Loans and Credit Cards

Summary

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BANKS offering credit cards and loans could face a series of clampdowns if they are found to be making customers get into greater debt.

Some of the country's largest financial institutions may need to improve radically the way they assess creditworthiness, and face bans on issuing credit cards to customers who have taken out loans to consolidate other debts, if proposals discussed on 11 January get the go-ahead.

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Extract

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Banks to Face Curbs On Loans and Credit Cards

Financial industry watchdog the Banking Code Standards board launched a probe this year into the factors that ar...

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