Compliance Monitor
Lenders given leeway on strategies for helping repeat overdraft users
The FCA looks set to allow firms to continue to develop their own strategies to deal with borrowers who repeatedly go into overdraft.
By Neasa MacErlean
It estimates that nearly £1 billion has been saved by borrowers since a
package of measureswas introduced in late 2019 (on repeat overdrafts) and spring 2020 (on pricing).