Vince Cable: Banks continue to rip customers off

Vince Cable: Banks continue to rip customers off

www.bbc.co.uk

Britain's banks are "ripping off" their customers, Business Secretary Vince Cable has told the BBC.

Panorama reveals that high street banks surveyed are charging as much as 167% interest on unauthorised overdrafts.

Bank customers also complained to Panorama about the Halifax, which is owned by Lloyds Group Plc, a recipient of more than £20bn from the taxpayer in the bailout in late 2008.
They said it was charging an effective annual rate of interest of 3,650% on an overdraft of just £10.

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Will it ever end?

We all know how bad the banks are. Why on earth were they ever bailed out?

Why did we not stand up and stop them being rescued?

A lot of us have learnt a lesson, but we are still in the dark as to how to stop these banks and their scams and schemes.

Voting for a particular government does not seem to be the solution.

3,650% interest has to be one of the biggest cons going, as well as being an illegal tax, as the only way this interest can be paid is direct out of your wages because money cannot make money..It cannot grow.

www.bbc.co.uk
(visit the link for the full news article)

The International Banking Cartel just doesn't make enough money, don't ya know? Gotta make sure those crooks get their bonuses.

This is why I racked up my credit card and am not paying it. They can go to hell after all the times they have screwed me(and they have screwed me plenty of times).

Too big to fail. Yeah, whatever.

reply to post by Extralien


The banks appear to use every form of sneakery to expoit the masses this in addition to crime of interest incurred by the government for the people to pay to line the pockets of the Bank of England Nominees. You see when the government sell the bank holdings the money will be swallowed up by interest payments that will further line the pockets of the BofE Nominees. Our financial system saddles us all with debt. On top of all this exploitation there are a large number of banking intrests reflected in the Bilderbergers so we are being ruled, exploited and milked by the bankers. I believe the MPs are banned from discussing payments and tax status thereof regading the BofE Nominees.

I suggest you all google "Bank of England Nominees " to identify the scale of the stitch-up.

If you want to have an effect on the way banks treat us all, withdraw all your savings and transfer them to the Post Office or a cedit union or just keep in cash form this would have to be coordinated at a national level but you can be assured of getting the attention of the banks to get a better deal out of the parasites. Do not be taken in by their sickly nice guy advertizing they are only out to maximise profits at our expence.

[edit on 19/7/10 by IMOVERHERE]

[edit on 19/7/10 by IMOVERHERE]