UK Politics

Liberal Democratic Party: Burt: Lib Dems leading the fight against unfair bank charges

Press Release   •   Nov 10, 2010 11:02 GMT

“For too long the balance of power between banks and their customers has been skewed in the banks’ favour. We want a system that is fairer for customers and that is what the Liberal Democrats in Government are determined to deliver.”

Co-chair of the Liberal Democrat Parliamentary Business, Innovation and Skills Committee, Lorely Burt has been invited to advise the Coalition Government on introducing fairer banking practices.

Lorely Burt has campaigned against unfair overdraft and penalty charges and has been asked by Liberal Democrat Business Minister Ed Davey to advise the Government’s Consumer Credit and Personal Insolvency Review.

Commenting, Lorely Burt said:

“Liberal Democrats have been leading the fight against unfair bank charges.

“For too long the balance of power between banks and their customers has been skewed in the banks’ favour. We want a system that is fairer for customers and that is what the Liberal Democrats in Government are determined to deliver.”

Commenting further, Ed Davey said:

“The Government is committed to protecting the interests of consumers and Vince Cable and I are very keen to deal with the issue of unfair bank charges.

“That is why we have included the issue as part of our review of Consumer Credit and Personal Insolvency. If the evidence comes out in favour of action we will not hesitate to act.

“Lorely Burt MP and Which? have been very active in this area and we look forward to working with them.”