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Realistbear

Credit Is Being Tightened As H S B C Crack Down

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http://www.guardian.co.uk/frontpage/story/0,,1870418,00.html

HSBC cracks down on its overdrawn customers

· Banks worried about soaring consumer debt

· Overdrafts have become 'rolling personal loans'

Rupert Jones
Tuesday September 12, 2006
The Guardian
HSBC signalled the end of easy credit yesterday as it announced a clampdown on customers who regularly go into the red on their current accounts.
Britain's biggest bank is tightening up its rules on overdrafts to rein in customers it believes may be borrowing beyond their means. It is introducing an "annual review" of all its customers' overdrafts and said this would result in some seeing their overdraft limits cut...../
Six weeks ago
HSBC reported a 36% surge in bad debts
among its personal customers in Britain, with the figure for the first half of 2006 alone now standing at £361m. HSBC said the changes to its overdraft rules were designed to "bring greater clarity about what an overdraft service is, how customers apply for an overdraft and how fees are charged," though it conceded they were also in part about helping to reduce its bad debts.

A slight chill in the wind of the Miracle Economy? Must be getting nearer winter for HPI-MEW. :)

Edited by Realistbear

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http://www.guardian.co.uk/frontpage/story/0,,1870418,00.html

HSBC cracks down on its overdrawn customers

· Banks worried about soaring consumer debt

· Overdrafts have become 'rolling personal loans'

Rupert Jones
Tuesday September 12, 2006
The Guardian
HSBC signalled the end of easy credit yesterday as it announced a clampdown on customers who regularly go into the red on their current accounts.
Britain's biggest bank is tightening up its rules on overdrafts to rein in customers it believes may be borrowing beyond their means. It is introducing an "annual review" of all its customers' overdrafts and said this would result in some seeing their overdraft limits cut...../
Six weeks ago
HSBC reported a 36% surge in bad debts
among its personal customers in Britain, with the figure for the first half of 2006 alone now standing at £361m. HSBC said the changes to its overdraft rules were designed to "bring greater clarity about what an overdraft service is, how customers apply for an overdraft and how fees are charged," though it conceded they were also in part about helping to reduce its bad debts.

A slight chill in the wind of the Miracle Economy? Must be getting nearer winter for HPI-MEW. :)

Probably more to do with the imminent end of ridiculous bank charges.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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