Banks refusing to reveal rate and using 'underhand tactics' to hide loan penalties

[AAD News Feed]

Banks refusing to reveal rate and using 'underhand tactics' to hide loan penalties

This is a duplicate of the Blog Entry made on: 21st April 2017 17:47

A damning report on personal loans yesterday found families face a staggering £400 million rip-off from the 'broken' market. Banks are damaging borrowers' credit ratings by refusing to say what interest rate you'll receive until you've applied and are using 'underhand tactics' to hide loan penalties, says Paul Pester, the boss of TSB. Calling for rival banks to clean up their acts, he says: 'I was genuinely shocked and amazed to discover the underhand tactics employed by loan providers. There is an underlying culture in banking where they just don't think about the customer .'...Read more here