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PPI Claim News - 26/3/2010

 
Loan charges: Credit market politics 'could hurt consumers'

Excessive regulation in the credit market could further restrict lending and make it harder for consumers to make it through the recession.

That is according to the Finance and Leasing Association (FLA), which urged MPs not to make a "political football" out of personal debt in the run-up to the general election.

The organisation was speaking after it published new figures on consumer finance, which indicated that unsecured lending has almost halved over the past year, while the second mortgage market has dropped by 82 per cent in that period.

Fiona Hoyle, head of consumer finance at the FLA, said: "We have seen a slow start to the year in terms of new business, but affordable credit will play an important part in supporting the economic recovery in the coming months.

"It is important that the main parties do not make a political football of the credit markets by proposing further reforms without fully understanding the consequences."

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.

Samantha Clarke
Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-19692504-ADNFCR



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