Improve Money Rules In 50 Words. Suggest easy changes for our politicians

rita_jane

This legislation repealed the Trade Descriptions Act. it protects consumers against misleading actions, misleading omissions, aggressive practices and banned practices. However it cannot be used by consumers but is enforced by Trading Standards. This is not the case in Ireland.
If the ConDem is serious about giving consumers more protection, it will give consumers the right to take action under this legislation.

chudleigh_warner

Car insurers often hike their charges up disproportionately at renewal even when you haven't claimed, relying on the customers to not notice or not have time to shop around before automatic renewal kicks in. Since all drivers are 'over a barrel' regarding insurance requirements, there could be sensible limitations on the increase in premiums that can be charged at renewal, particularly for non-claimants.

MissDillon

Is it fair that banks can charge £5 per day for letting you go overdrawn? Why isn't lending limited as for solo/maestro transactions? Why is there no parity between saving and loaning aprs? Why can I only make between 3-6% on my savings, yet banks are making and inequitable profit on loans and charges?

oliver1950

Ability to USE SIPP funds to access ordinarily available high street deals
Today SIPP funds can't access decent cash deals, while on the high street there are many offers with a good rate of interest. Allow SIPP's to access any deals and ensure regulations permit the institutions to take these funds.

tufc

"Tax is for the little people" - hmmm... Big business cannot be allowed to so easily avoid paying their fair share of tax whilst enjoying benefits of citizenship etc, particularly now with such severe cuts. Apologies to your Conservative party donors, but America has already outlawed this practice - so must we.

gropinginthedark

spr6wo wrote: »

Many times you see wonderful prices advertised and it isn't until afterwards that you realise that it didn't include VAT or delivery,etc.
My proposal is that all advertised prices are for the total cost to the customer.

Extending above. If buyers are locked into a minimum contract period and a periodic (monthly) payment the advert MUST include either total cost or average monthly cost over contract period. So “free broadband (first 3 months thereafter £££ for 2 years)” gives realistic cost expectations.

gropinginthedark

Registering with TPS doesn't stop cold calls.
Complaints to TPS have NEVER resulted in a prosecution (fine of £5000 per call).
Make some highly publicised prosecutions or change the legislation such that the recipient can take the caller to county court for generous compensation.

olicla

Make the banks borrow from Wonga (thats us), the people who only get a small decimal point interest on money in the bank.Then we could all be members of wonga and collect the profits the banks are making off our backs.

Red_sky

When companies advertise their broadband services ban the wording 'Up to' which is deceptive and devisive and make it compulsory to use the word 'From' when promoting their internet speeds then make this a compulsory minimum requirement.

nathanlock

The whole point of direct debit is to help with monthly budgeting, so councils should be made to offer 12 equal monthly installments as well.