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Boss Of Egg Resigns

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Boss of internet bank Egg resigns

The announcement comes after a row over the bank's decision to withdraw 161,000 credit cards, a move that angered many customers and consumer groups.

The bank, owned by Citigroup, said the customers were a poor credit risk but many of those affected insisted they paid their bills in full every month.

Egg said Mr Kerr's resignation was of his accord and was not related to the credit card cancellations.

Mr Kerr, who had run Egg since November 2006, will be replaced by Bert Pijls, Citigroup's country manager for the Czech Republic.

The credit card cancellations affected 7% of Egg customers.

Many of the customers affected said they had good credit records and claimed that Egg cancelled their cards because they did not make enough money for the bank.

Egg denied this and said the customers might become a high risk in the future.

Labour MP Nigel Griffiths, a former consumer affairs minister critical of Egg's actions, welcomed Mr Kerr's resignation.

"Egg presided over a PR disaster, withdrawing cards from thousands of perfectly respectable customers and failing to give full and honest reasons," he said.

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Was he a bad egg that got poached, scrambled or boiled?

I think it was egg's finances that are scrambled! still he's free range to grt a job with the govment! or maybe he just needs to recharge his battery hens, yeah reaching Iknow.

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Interesting. The head of ING Direct who reduced their online saving rates resigned in the last few weeks also and the new boy has put the savings rates back up in order to get savers back. Perhaps Egg will now do the same?

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Guest Bart of Darkness

He must be feeling shell shocked. It's no yoking matter. The chickens are definitely coming home to roost. Still, least said and all that, I wouldn't want to eggacerbate the situation.

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He must be feeling shell shocked. It's no yoking matter. The chickens are definitely coming home to roost. Still, least said and all that, I wouldn't want to eggacerbate the situation.

rofl...n1 Bart :lol::lol::lol:

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He was later quoted as saying "the pay was chickenfeed - there's no way you could line your nest with that". When asked about the cards fiasco he went on to say "it was always a shell game - and what you have to understand is we'd already plucked them for what they were worth; there was no other choice than to pullet".

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He was later quoted as saying "the pay was chickenfeed - there's no way you could line your nest with that". When asked about the cards fiasco he went on to say "it was always a shell game - and what you have to understand is we'd already plucked them for what they were worth; there was no other choice than to pullet".

Sounds like a bit of an egg-aggeration to me!

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Many of the customers affected said they had good credit records and claimed that Egg cancelled their cards because they did not make enough money for the bank.

Egg denied this and said the customers might become a high risk in the future.

As a matter of interest, does anyone know if lenders make no money off people who pay their cards off each month? I can understand that they might not make much, just the couple of percent they charge the shops, but they don't need to spend very much on these people either, just the few pence in sending out a bill every month. Not great, but once you've got the customer, it sounds like money for old rope,

Peter.

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  • 294 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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