Parliament demands FSA action on arrears handling

Appearing before the Treasury Select Committee - as part of its inquiry into mortgage arrears and access to mortgage finance - Myners warned that the FSA should pay serious attention to the fees in its review of the mortgage market due in autumn. He told the committee: "I do have a concern that there is a risk that these charges could be excessive. It is at the margin of the business, but it is at the margin that the mischief is being done." Myners described the charges as an example of lenders being "short-sighted". "If they have a borrower who is in a distressed condition, unable t...