Bank of England steps up scrutiny of lenders
by Jill Treanor from on (#2VMBB)
Threadneedle Street tells credit card and personal loan providers to stick to their terms and conditions
The Bank of England is stepping up its scrutiny of banks and other lenders on credit cards, personal loans and car purchases amid fears that growing consumer debt could rebound on the banking system.
Threadneedle Street is writing to the firms it regulates after reviewing the consumer credit sector, where lending is growing at 10.3% a year - outpacing the 2.3% rise in household income.
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