Banks to use Libor parliamentary probe to push for end of free accounts [MailOnline]
August 21, 2012 Leave a comment
Banks are plotting to use a parliamentary inquiry into their bad behaviour as a way of imposing account fees on customers.
MPs and peers on a commission set up to examine the recent Libor scandal will be approached by financial institutions this week which will argue in favour of introducing current account charges.
Several banks are expected to make the case that ‘free’ accounts were partly to blame for reckless actions by lenders and scandals such as the mis-selling of payment protection insurance.