Treasury - First Report
Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 10 December 2003.
CONTENTS
Terms of Reference
REPORT
Summary
The issues
Transparency
Transaction / penalty charges
Over-indebtedness and responsible lending
Store cards
Conclusion
1 Introduction
This Inquiry
The credit card industry
The level of interest rates charged
Regulatory environment
Self-regulation
European regulation
2 Transparency: increasing clarity in credit
card charges
Transparency and competition
Summary Box
The need for a summary of key information
Content of Summary Box
Format and placing
Information on monthly statements
Annual Percentage Rates (APRs)
Interest calculation method
Risk-based pricing
Order of payments
Transaction / Penalty charges
Transparency
The level of fees charged
Promotional rates
3 Over-indebtedness
and responsible lending
Over-indebtedness
Responsible lending
Automatic raising of credit limits
Increasing overall credit availability on
transfer/conversion of balances
Inadequate credit checking
Credit card cheques
Minimum repayments
Other marketing practices
Payment protection insurance
Responsible borrowing
4 Store Cards
Background
Transparency
Interest rates
Retailers' responsibility
Point of sale practices
Conversion of store cards to credit cards
5 Financial literacy
Raising standards
Education in relation to debt
6 Conclusion
Conclusions and recommendations
Formal minutes of the Committee relating
to the Report
Witnesses
List of written evidence
List of unprinted written evidence
List of Reports
MINUTES OF EVIDENCE - VOLUME II (HC 125-II)
WRITTEN EVIDENCE - VOLUME II (HC 125-II)
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