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MSE News: Minister warns banks of overdraft charges legislation

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This is the discussion thread for the following MSE News Story:
"Banks have been told by a senior minister they face legislation on overdraft charges if they fail to deliver fairer fees ..."
"Banks have been told by a senior minister they face legislation on overdraft charges if they fail to deliver fairer fees ..."
Read the full story:
Minister warns banks of overdraft charges legislation
Minister warns banks of overdraft charges legislation
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Unless of course, there is nothing anyone in power can do about it...
Says it all:rotfl::rotfl::rotfl:
If we can not charge you for going overdrawn, we will charge you for not being able too (because we [STRIKE]dont want to[/STRIKE] can not make a system to guarentee you can,t)
He's told me to write to Brighton detailing my IE which is a major result as I was looking for something useless to do with my time. I had to laugh because he was giving me the impression that it was ridiculous but he new that nothing would be done about it.
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/2012
I really can't be bothered to go through the whole don't spend other people's money argument, because it doesn't work. Enjoy the thread.
Low income, being made redundant, etc is not a good enough reason for going into an unauthorised overdraft. My parents were brought up in families earning minimum wage back in the 60s. They couldn't just steal the bank's money when they felt like it, but they got by. Perhaps by not having a TV or phone, or by renting such goods as opposed to buying them. Nowadays having a TV or mobile phone or Sky subscription seems to have become a right, rather than a privilege for those who could afford them.
Before someone brings up the "we've bailed out the banks so we want something back for free" argument, this won't wash with me because in case anyone hasn't noticed, we bought shares in the bank - we didn't just hand over huge wads of cash. When the banks make a profit, the government will receive their share of this. The government will also be able to sell the shares, which should recover some of the money spent.
Good financial responsibility is all most people need to avoid charges. Question yourself before you stick your card in the PIN terminal: Do I really need this item? Can I get it cheaper? Do I have enough money in my account? Do I have any bills due in the next few days?