You are here: Home - Saving & Banking - News -

Help The Aged criticises new banking code

Written by:

Help The Aged has reacted angrily to the new banking code which doesn’t take on board suggestions that were made regarding credit applications for older people.

Kate Jopling, head of public affairs at Help the Aged, said: “The new banking code’s ‘enhanced promise’ to treat customers fairly and reasonably is in stark contradiction to the blatantly ageist attitudes of the code sponsors.

“In what amounts to a deplorable decision, the British Bankers Association, the Building Societies Association and APACS have refused to accept the independent reviewers’ recommendation to end the practice of rejecting applications for credit on the grounds of age.

“This negative response demonstrates starkly why legislation to ban age discrimination in the provision of goods and services is so important. It is both unacceptable and indefensible for commercial organisations to discriminate solely and blatantly on the grounds of age in the 21st century. It is archaic, misguided and wrong.

“Older people will be dismayed and angry at the ‘stick in the mud’ attitude of the banks. Help the Aged had hoped that banks would embrace age equality, but it is obvious that only legislation to outlaw such out-dated practices will deliver for older customers who have a right to fair provision of goods and services.”


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
One in seven motorists admit driving without insurance

Around 15% of British motorists admit they have driven a car they were not insured to drive, according to research...