Citizens advice response – FCA overdraft rules will protect vulnerable people from spiralling fees

Industry News | 11/06/19

The Financial Conduct Authority’s decision to introduce reforms to the overdraft market should help thousands of people from getting trapped in a debt spiral, Citizens Advice says. Citizens Advice helped almost 30,000 people with overdrafts last year. It is one of the most common consumer credit issues we help people with. Last year we supported 24,000 people struggling to repay their overdraft. Nearly 3,000 people had problems specifically related to overdraft charges.

Source: Citizens Advice