Mandelson warns credit card firms
The Government has warned credit card companies that they could face an Office of Fair Trading investigation if they fail to stamp out bad practice within their ranks.
Business Secretary Peter Mandelson said he would have "no hesitation" in asking the consumer watchdog to report to him over those firms which fail to "step into line" over complaints about unreasonable behaviour.
"We have a very tough consumer watchdog - the Office of Fair Trading - and I will have no hesitation, if these companies don't step into line and start treating people in a fair, responsible, consistent way, then I will ask the Office of Fair Trading to look into their practices, report to me and then I will be able to take even further action," he told GMTV.
Lord Mandelson's remarks came as he and Consumer Affairs Minister Gareth Thomas were due to hold a summit with credit card industry officials to discuss mounting concerns that customers are not getting a fair deal in the current economic downturn.
