BARCLAY HARD; BORROWING.BARCLAYCARD plans to raise the interest rates it charges to some struggling customers. The group said it would impose a "limited number" of rises where the risk of lending had increased. But it insisted numbers affected would be "tiny" compared with the three million card holders who had rates cut this year. The move is likely to anger consumer groups and the Government, which has threatened an Office of Fair Trading The Office of Fair Trading or OFT is a non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforces both consumer protection and competition law, acting as the UK's economic regulator. inquiry into the sector if firms behave unfairly in the downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. . |
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