Authorised Robbery: How High Street Banks Bleed the Poorest Customers Dry — and the FCA Lets Them
Britain's overdraft system functions as a legally sanctioned wealth transfer from the financially vulnerable to some of the most profitable corporations in the country. Despite high-profile regulatory interventions, the Financial Conduct Authority has allowed banks to restructure their charges in ways that continue to punish low-income customers — and the political will to stop them is conspicuously absent.