Credit card crack-down White Paper

[Coactum]

Perhaps I've missed it elsewhere but I'm surprised that no one has started a thread on yesterday’s announcement on the Government White paper to clean up the credit-card market banning unsolicited credit-card cheques and credit-limit increases etc.

 

Is this elsewhere in the system?

[alfwithhair]

I don't know if there is another thread with it on, but if not there is now

 

Credit card traps face outright ban | This is Money

[cerberusalert]

I posted it yesterday; Bank Charges and the Finance Industry in the media... - The Consumer Forums

[Coactum]

Thanks cerberusalert the internet is full of articles on this today. Here are just a few that I found:

 

UK sets out consumer credit industry crackdown plans | Industries | Industrials, Materials & Utilities | Reuters

 

BBC NEWS | Business | Crackdown on credit card cheques

 

Credit card crack-down: What it means for you | Yahoo! Finance

[Coactum]

I read that "the Bank of England show that UK residents owe £233bn on credit cards, overdrafts and other loans." and guess that is not traditional UK billions. i.e. £233,000,000,000,000 (million, million) equivillent to £3,883,333 each rather than the more comonly adpoted US billlion meaning we each owe circa £3,883.

 

I wonder why the Bank of England finds the need to conform to US led erroneous numbering?

 

When I was at school we had:

digits,

tens,

hundreds,

thousands,

tens of thousands,

hunderds of thousands,

millions,

tens of millions,

hundreds of millions,

thousands of millions,

tens of thousands on millions,

hundreds of thousands of millions,

AND THE BILLIONS!

[cerberusalert]

When I was at school we had:

Rods, Perches & Poles,

 

And I don't mean fishing rods, budgie perches on the desks or Polish gardeners.

[Coactum]

Rods, Perches & Poles,

 

And I don't mean fishing rods, budgie perches on the desks or Polish gardeners.

 

Sadly I remember all that too. 4 poles to a chain, 10 chains to a furlong, 8 furlongs to a mile etc.