Banks quizzed over credit card standardisation

Chairman of the Treasury Select committee, John McFall yesterday said while progress has been made, there is still some way to go as the credit card charges imposed on consumers are thought to generate millions in profit for the companies. The TSC quizzed top officials from leading banks including: Barclays, Royal Bank of Scotland, HSBC and MBNA Europe, over what efforts being made in industry to make these varying rates more transparent to consumers. All four banks are satisfied efforts to provide information through summary boxes are sufficient, and when the committee called for an in...