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Credit card charges: OFT chief executive to step down

After seven years dealing with unfair credit card charges, payment protection insurance (PPI) refunds, loan claims and countless other consumer concerns, chief executive of the Office of Fair Trading (OFT) John Fingleton has announced he is to step down.

He said he was proud of what the organisation has achieved in this time, wherein "many issues of concern to the public" have been dealt with.

The representative argued UK consumers are increasingly dealing with efficient and competitive organisations that are compliant with relevant laws and legislation.

OFT chairman Philip Collins pointed out under Mr Fingleton's leadership, the body has taken on problems across a wide range of sectors, "from bank charges and PPI to airport ownership, the construction industry and transparency of prices".

In a letter to the secretary of state, Mr Fingleton noted serving in the position has been "an honour and privilege".

He is expected to give half a year's notice and confirmed he does not yet know what his future job will be.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801301071-ADNFCR



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