This petition was submitted during the 2017-2019 parliament
Rejected petition Tighten banking regulations to prevent crippling overdraft fee increases
In recent years, campaigns / complaints regarding unfair overdraft charges have led to recommendations to simplify overdraft charging
Since then, some banks have "simplified" their fees. However this isn't a victory for the people
The fees are being picked up by the most financially vulnerable
More details
In 2008, the government and UK taxpayer bailed out much of the banking sector.
Since then, poorer people have paid further.
Many banks enjoyed revenue from confusing, unfair charges.
Following recommendations to stop this, a newer "Xp per day" daily fee structure appears to be the way forward.
Under this system, the revenue may not be lost.
The most financially vulnerable pay the most and by some margin.
There is no desire to offer a "leg up", more a "punishment" for those most in debt.
This petition was rejected
Why was this petition rejected?
It’s not clear what the petition is asking the UK Government or Parliament to do.
Petitions need to call on the Government or Parliament to take a specific action.
We understand that you're concerned about overdraft charges, but we're not sure exactly what changes you'd like to see.
You could start a new petition explaining clearly what you would like the Government or Parliament to do.
We only reject petitions that don’t meet the petition standards.