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Virgin Money welcomes interim report into the credit card market from the FCA

04/11/2015

Virgin Money fully agrees with the conclusions of the interim report into the credit card market published by the FCA today and the proposed requirements for full transparency and responsible lending in the credit card market.

Virgin Money also welcomes the FCA’s support for a range of products, including zero per cent balance transfer products, which are so popular with UK consumers.

Virgin Money already offers simple, transparent credit card products. Based on the potential remedies set out in today’s report, Virgin Money will fully implement any changes necessary to meet the final requirements in due course and looks forward to supporting the FCA in their final report.


Ends


Media Contacts:

Virgin Money Press Office:
Brian Giles / Simon Hall
0191 279 4676 or press.office@virginmoney.com

FTI Consulting:
John Waples
+44 (0) 7717 814 520 or john.waples@fticonsulting.com



NOTES TO EDITORS

About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
  • Virgin Money’s business ambition is to make "everyone better off" – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to our shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving the not-for-profit online fundraising service, since 2010.

Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.