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Centre for Policy on Ageing | |
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In the bank's bad books
— how the banking code of practice works for customers in hardship | | Corporate Author | National Consumer Council - NCC |
| Publisher | National Consumer Council, London, 1997 |
| Pages | 104 pp |
| Source | National Consumer Council, 20 Grosvenor Gardens, London SW1HW 0DH. |
| Keywords | Banks ; Standards of provision ; Advisory services [elderly] ; Consumer ; Poverty ; Social surveys. |
| Annotation | The first code of banking practice came into effect in 1992, and this report outlines its development. It concludes that the code is not working, and local bank branches need more guidance and training to meet its provisions, if they are to deal sympathetically and positively with people in financial difficulty. Banks have a conflict of interest in their roles of creditor and service provider, often to the detriment of customers. The report examines banks' debt and money advice, considers their business practices, and the ways in which information technology, closures of local branches and the end of personal banking have contributed to increased indebtedness. The policies of 20 banks as regards bouncing cheques, arrears, and advice and information provision are examined. These findings are contrasted with CAB (citizens' advice bureaux) advisers' and clients' experiences. The report makes recommendations designed to help banks meet the provisions in the 1997 code of practice, which are directed at the government, the British Bankers' Association, the banks themselves, and the Independent Review Body. (RH). |
| Accession Number | CPA-980909222 B |
| Classmark | WNM: 583: IT: WY: W6: 3F |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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