Cap failed payment fees for individuals and small businesses
National
·27 contributorsIntroduce legislation to cap fees associated with declined direct debit and late payments so that do not exceed the administrative cost of handling the late payment. We also call on the Government to require grace periods and fair payment alternatives for those unable to pay.
Peter Kyle
Business Secretary
Fees trap vulnerable customers in debt
Review oversight to prevent fee revenue
Excessive automated late payment fees
Similar motions
Cap failed payment fees for individuals and small businesses
National
Introduce legislation to cap fees associated with declined direct debit and late payments so that do not exceed the administrative cost of handling the late payment. We also call on the Government to require grace periods and fair payment alternatives for those unable to pay.
Fees trap vulnerable customers in debt
Review oversight to prevent fee revenue
Excessive automated late payment fees