Petition To Prime Minister

Malcolm_Davis

Al Mac, you back up my argument perfectly. For which I will post a great big thank you to you!

I firmly disagree with most of the issues you highlighted. If the medical one kept a few people alive longer, then maybe that might be in the common good. Though I think they are having problems with the computers.

Best wishes Malcolm

PS to stop 33 million bank customers having their bank account details shared with the credit reference agencies without their consent, and their civil liberties eroded to boot, please sign this petition to the PM

http://petitions.pm.gov.uk/bankdatasharing/

Malcolm_Davis

Dear Al Mac,

Sorry you feel that way.

Vote Communist Party? No, I don't think so, I studied history at University and saw what that brought.

I would just like to live in a society where common sense prevails, and our rights are respected.

Best wishes

Malcolm

dinkylou

I can see both sides of the argument to this one but on the whole I think it will have more of a positive effect than a negative one.

Yes, its not nice to think of your details being shared but they are regularly already.

I think that by being able to see the state of our finances, the banks will be able to make better informed decisions about who and how much credit to give out. How many times have we seen people come to this board having run up debts, either by consolidating or just not being in control of their finances from a young age.
Now whilst many people on here are switched on now and more in control of their money, many many are not. At least by sharing this information, those who are in control of their money will have no problems and those who are in danger of running up massive debts will have less access to 'easy credit'.

I think it will be a positive thing to stop encouraging people, especially younger people to not have runaway debts.

Just my opinion, obviously everyone is entitled to theirs.

dinkylou

Just seen this on another post and would like to share with you.

'I'm so mad and upset with myself for getting in all this debt, I'm also mad at most of the companies as most of the debt is from when i was a daft 18 year old. How can they justify giving me all this credit when i was earning £13000 a year and was between jobs and living with parents???'

Whilst I would never criticise or pass judgement on this persons circumstances, if the banks had been able to see the situation clearly through sharing information on debt levels with other banks, the level of credit could have been reduced, helping this person.

For me, examples like this (and there are many more) show me why this is more of a positive thing than a negative one.

Malcolm_Davis

Dear Al,

If you read what I wrote earlier you will have seen my alternative solution, one that does not require a change to the law, and allows for those people who want their details shared to do so.

To reiterate, under current laws, the banks can write to their customers they do not have permission to share the details of, and ask them if they are happy for them to share their bank account details with the credit checking firms.

If the customer says they are happy to have their bank account details given to the credit reference agencies, all well and good. If the customer says no, then they don't have their details shared.

What can be wrong with that? Please give me your thoughts.

It would cost the banks money, but they could ask their customers when they come into the branches to cut costs.

Cheers Malcolm

Malcolm_Davis

The Government would be far better served educating young people on how to manage their finances, and how to avoid the snares of credit advertising rather than passing draconian laws.

Tootsie_Roll

shameless-about-money wrote:

The banks are making excess money, that is the difference. Fleecing already hard-pushed families to the edge.

Actually the banks make no money on current accounts they are a loss leader to attract customers.

icefall

Signed Malcom.

I would prefer to receive a letter asking for consent, so I am aware of when and even maybe why people want to access my details.

Thanks for bringing this to our attention.

Malcolm_Davis

Thanks Icefall,

I agree with you totally.

We have all seen how the new Government e-petitions website has made the government think twice about the 'Toll Tax.'

If enough people sign this petition on there too, maybe, just maybe they will think twice about this bank account data proposal and scrap it, and leave our civil liberties intact.

Fingers crossed.

Malcolm

Malcolm_Davis

I think in the modern world we live in it's vital to give young people the ability to manage their finances properly. Education is the only way to achieve this.

It has to be the best way to stop young people getting up to their eyes in debt. Which is no good for them, or society as a whole.

And I am sure you won't be surprised, I think people should be allowed to make their own mind up.

There should be no pre-ticking of boxes in letters from banks, pre ticked boxes always catch some people out. You need to allow them to decide yes or no. I am sure most people have been caught out by pre ticked marketing tick boxes at some point.