The practice of
Welcoming an enquiry into the sector by the Department of Business, Innovation and Skills, the lender called for the practice of adverse payment to end.
It said that it means consumers pay extra interest on their borrowings, with the total amount extra being charged to British consumers last year as a result of such policies being £500 million.
Nearly all the UK card providers use the system, Nationwide noted.
Responding to figures from Credit Action last month showing the overall UK personal debt burden was easing, he stated that the prevailing trend for consumers to prioritise