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COMMENT


The 'Wonga Economy' is not a good place to be but it inevitably thrives as a direct consequence of the amoral behavior and clear failure of High Street banks to fairly or adequately loan money to individuals or small business, hence the market place of the desperate. Never of course mentioned or discussed is the fact there is absolutely no limit to the level of interest so called decent banks can and regularly do levy unilaterally on ordinary customers such as me, however inappropriate damaging and fraudulent these might be. Often far higher rates than those of Wonga et al and with far more serious consequences. What about a more urgent and effective cap on the often crippling level
of High Street bank charges? Discuss.

Significantly and constructively both the ‘Parliamentary Public Accounts Committee’ and the ‘Financial Conduct Authority’ have now contacted me by letter to assure me that my correspondence will be carefully considered by their supervision teams to determine whether my experience brings into question Barclays ability to comply with the rules and meet standards they expect.