youthmoney

What will young people want to know about today’s surprise Supreme Court ruling? UK banks have won their argument that overdraft fees on personal bank accounts cannot be assessed for fairness by the Office of Fair Trading. So what’s the impact on young people?
For those who never spend more money than they have, it is [...]

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“Loan fat cats prey on the desperate poor to fund mansion lifestyle,” said yesterday’s News of the World. Under a headline “You vultures!”, it laid charges of cashing in on Britain’s poorest against  high-street store BrightHouse and its rent-to-buy schemes for household goods.
The paper reports that the company is “raking in record profits of £20million [...]

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Many pundits think UK banks will soon be unable to raise revenue by hefty charges to customers running unauthorised overdrafts. They will be looking for other ways to charge.
Is it likely that new bank account charges will be simple to understand, easy to compare, and good value for money? Possibly. But there’s a fair chance [...]

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