Interest quoted on Bank Statement?

[hamstring]

Quick question,
are bank's now obliged to quote the current rate of debit interest being charged on a loan or overdraft account? (and is the statement supposed to show interest rate changes that occurred during the time period the statement deals with?)

 

[Brendan Burgess]

Hi Hamstring

Check the Consumer Protection Codes on the Financial REgulator's website.

The codes are not fully implemented yet but if they say they should show interest rates, then complain to the FR if they are not doing so.

Brendan