Morrice issues bank charge debt warning

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UNFAIR bank charges are pushing more and more families into debt, Livingston Labour MP Graeme Morrice claimed today.

He said high charges and exorbitant interest rates were causing huge financial problems for consumers, especially those who are vulnerable or living on low incomes.

He has tabled a motion at Westminster backing a campaign by the Consumers Forum that calls on the government to implement its promise to introduce stronger consumer protection, “including measures to end unfair bank and financial transaction charges” and urging a cap on interest rates.

Mr Morrice said: “Millions of consumers continue to be hit by a range of high, unfair bank charges, often for situations over which they have had little or no control.

“There is also increasing evidence that these charges impact disproportionately on those least able to cope with them. It is time for the government and banks to reach a solution that will put an end to these unfair charges and ensure consumers are protected.”

He is also asking people in West Lothian to support his call by signing an e-petition to the government. It can be signed at http://epetitions.direct.gov.uk/petitions/14591