HSBC overdraft rate to quadruple for some customers
(The Guardian Business News)

Eight million users will pay more for going into the red after FCA´s borrowing shakeupAbout 8 million HSBC customers are to have their overdraft rate doubled - and in some cases quadrupled - to 39.9% as it becomes the biggest UK bank so far to respond to tough new borrowing rules.Some customers - potentially running into the millions - will now pay more for going into the red as a result of the move, which comes after the Financial Conduct Authority ordered a ban on excessive overdraft fees. Continue reading...