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Which? letter to FCA;High Cost Credit Review

High cost credit review prompts a letter to the FCA

Along with 84 MPs from all the main parties, Which? is demanding that the financial regulator, the Financial Conduct Authority (FCA), takes urgent action to restrict unarranged overdraft charges to the same level as arranged overdrafts. New Which? research has revealed that the most expensive overdraft fees cost seven times as much as a payday loan.