Tighten banking regulations to prevent crippling overdraft fee increases

Rejected 18 signatures

What the petition asks

In recent years, campaigns / complaints regarding unfair overdraft charges have led to recommendations to simplify overdraft charging

Since then, some banks have "simplified" their fees. However this isn't a victory for the people

The fees are being picked up by the most financially vulnerable

In 2008, the government and UK taxpayer bailed out much of the banking sector.

Since then, poorer people have paid further.

Many banks enjoyed revenue from confusing, unfair charges.

Following recommendations to stop this, a newer "Xp per day" daily fee structure appears to be the way forward.

Under this system, the revenue may not be lost.

The most financially vulnerable pay the most and by some margin.

There is no desire to offer a "leg up", more a "punishment" for those most in debt.

Why it was rejected

It was not clear what the petition asked the UK Government or Parliament to do.

Petitions need to call on the Government or Parliament to take a specific action.

We understand that you're concerned about overdraft charges, but we're not sure exactly what changes you'd like to see.

You could start a new petition explaining clearly what you would like the Government or Parliament to do.

Timeline

1 Nov 2017	Petition opened for signatures
7 Nov 2017	Rejected by the Petitions Committee

Key facts

Signatures 18

Status Rejected

Rejected 7 Nov 2017

Follow this petition