Prevention of Excessive Charges Bill

[alanfromderby]

Prevention of Excessive Charges Bill - Mr Mohammad Sarwar

Govan Law Centre's bank and consumer charges bill is to be debated next week after Prime Minister's Question Time - sometime around midday. It is a great chance for us to call for urgent change at a UK level - as you know these insidious charges result in poverty and serious misery for many people, and lead or contribute to eviction and repossession.

What's on: Parliamentary Calendar

http://www.govanlc.com/excessive%20c...ill%202009.pdf

[Steward]

You can use Google to search the web using these links below:-

[yourbank]

I am really thick. What day is it being debated cos I can't find it on that link?

[yourbank]

I got it,
Forthcoming Business of the Commons
29th April 2009

[yourbank]

Just to add that it is a 10 minute bill. Having looked at historically how many bills have then gone on to get Royal Assent then it is unlikely to go that far but it is a good thing that MP's are debating excessive charges in the House of Commons.

[car2403]

Link updated

[caro]

I've emailed my MP and asked him to support the bill. Given the short timescale before this is debated I'd urge others to do the same.

[kiptower]

the wording of the Bill

Prohibition of excessive fees or charges on consumers

(1) In any agreement regulated under the Consumer Credit Act 1974 or
any contract where one of the parties is a consumer it shall be unlawful
to impose a charge, fee or series of charges and fees for a consumer’s
default or failure to do something under that contract which is greater
than 2.5% of the actual value of the default or failure.

(2) In any contract for the provision of banking services regulated under
the Consumer Credit Act 1974 where a consumer exceeds or attempts
to exceed their agreed overdraft limit or funds available, it shall be
unlawful for the provider of that contract to impose a charge, fee or
series of charges or fees in excess of 2.5% of the actual value of the
sum the consumer exceeds or attempts to exceed their agreed overdraft
limit or funds available by.

(3) In this Act, “consumer” means any natural person who, in contracts
covered by this Act, is acting for purposes which are outside his or her trade, business or profession.

[andie_303]

Paddy Tipping MP will have my email in his inbox urging him to support this when he gets to his office on Monday morning

[kiptower]

I would say as in section 2 it will screw the Banks with charges, it clearly states,

max of 2.5% of the actual value of the sum the consumer exceeds or attempts to exceed their agreed overdraft limit or funds available by