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UK Competition Authority: OFT acts on concerns about charging orders invoice stamped 'past due'

( November 22, 2010, 11:49 GMT | Official Statement) -- MLex Summary: The UK's Office of Fair Trading has asked several banks to rectify certain policies on consumer debt collection, which gave rise to concern. After an investigation period, the regulator taken issue with the insitutions' recourse to charging orders. According to the authority,  Alliance and Leicester Personal Finance Limited, American Express Services Europe Limited, HFC Bank Limited and Welcome Financial Services Limited targeted by the investigation have accepted to adapt accordingly.Read the full statement below:...

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