Britain to probe $5.2 bln 'rip-off' of telecoms, financial customers

Britain to probe $5.2 bln 'rip-off' of telecoms, financial customers

Previous super-complaints lodged by Citizens Advice include one on PPI and another on cold calling.

The Citizens Advice Bureau will today lodge a super-complaint with the Competition and Markets Authority (CMA) over what it believes to be a £4bn annual loss to United Kingdom consumers.

Citizens Advice is a network of 316 independent charities across the United Kingdom.

Alongside the broader recommendations of encouraging consumers to engage with the market, protecting consumers from exploitation, and finding specific protections for vulnerable and low-income consumers, Citizens Advice has a suggestion for the mortgage market in particular.

The CMA is a non-ministerial United Kingdom government department that is responsible for strengthening business competition. Companies start to notice that you are not the type of customer who is likely to leave and so gradually push up bills. A rip-off is something that costs much more than it is worth. Should the super-complaint lead the CMA towards more stringent pricing regulations it will inhibit new ideas and innovation at a time when the telcos need it the most.

A regulator is required to publicly respond to a super-complaint within 90 days to say whether or not it believes this is an issue, and how it intends to deal with the matter.

- Recommending that the government introduce new laws.

- Recommend action by sectoral regulators. This includes a cash savings market studywhich reported in 2015, a discussion paper in July 2018 on price discrimination in the cash savings market, and a mortgages market study launched in December 2016 which published its interim report in May 2018.

White House aide Kellyanne Conway: 'I'm a victim of sexual assault'
Ms Conway said her experience helps her understand that victims "should all be heard, and they should be heard in courts of law". Jake Tapper , who was startled by the on-air revelation, apologized for Conway suffering that experience.

Hurricane Rosa to bring flooding rains to southwest US
It is expected to make landfall on the western coast of Mexico late Monday or early Tuesday. The storm was moving west at 13 miles per hour (20 kph).

Tampa Bay Buccaneers vs. Chicago Bears, 9/28/18 NFL Predictions & Preview
With a bye the following week, the Bucs would get even more time for Winston to shake off the rust before hitting the field. They will turn the team back to Ryan Fitzpatrick who led them to a 2-1 record against three 2017 playoff teams.

The CMA said it would consider the concerns raised and what should be done about them.

"We expect firms to look after the interests of all customers and treat them fairly, whether they are new or long-standing", he said. "Loyalty to a provider does not necessarily mean that a customer is not content with their service, especially as in the broadband sector there are a range of non-price issues that the customer may value, including performance, service quality, and reliability". Time and time again the telcos have been shown to employ dated business practises, not presenting themselves as customer centric organizations. They can also offer regular loyalty discounts, special offers, and multi-purchase deals.

The loyalty penalty is, on average, £877 per year - equal to 3% of the average household's total annual expenditure.

"The practice of overcharging loyal customers is widespread and Citizens Advice has repeatedly warned that loyal consumers are being ripped off", its Chief Executive Gillian Guy said. "As a result of this super-complaint, the CMA should come up with concrete measures to end this systematic scam", Guy said. In fact, sometimes they are even higher. Older adults and people with mental health issues, for example, are vulnerable.

The organisation's research covered mobile, broadband, home insurance, mortgages and savings. The husband and wife, both in their nineties, had been loyal customers for six years.

A super complaint is a rare mechanism that only a few consumer bodies in the United Kingdom can use, subject to government designation.

"It's completely unacceptable that consumers are still being ripped off for being loyal to companies they rely on every single day". However, there's still a long way to go in other sectors. "The CMA needs to act now to stop people being exploited".

Related Articles

  • Macedonia PM vows to move on with name change despite referendum failure

    Macedonia PM vows to move on with name change despite referendum failure

    A low referendum turnout could complicate his task of persuading more lawmakers that the name change enjoys popular support. Athens protested immediately, accusing Skopje of stealing the name of its own northern province, also called Macedonia.
    Jeff Flake, Chris Coons On Brett Kavanaugh’s

    Jeff Flake, Chris Coons On Brett Kavanaugh’s "Angry" Senate Testimony

    The editors at America magazine withdrew their support for Kavanaugh's nomination following Ford's testimony. Without both Flake and Murkowski, Republicans wouldn't have enough votes to confirm Kavanaugh .

    Seahawks Still Seeking 2019 2nd Round Pick For Earl Thomas

    Seahawks' coach Pete Carroll maintains that Earl and the organization remain "in a good place" despite the circumstances. The team fined him last week for missing practices and "other things", according to the NFL's Ian Rapoport.
  • Penn State's Juwan Johnson Made An Unbelievable One-Handed Catch

    Penn State's Juwan Johnson Made An Unbelievable One-Handed Catch

    If Penn State's line handles that line stunt better, Sanders may have taken it to the house for the game-winning score. Instead, for the second straight season, Ohio State made a fourth-quarter rally from a double-digit deficit.
    Tropical Storm Kirk weakens as it moves into Caribbean

    Tropical Storm Kirk weakens as it moves into Caribbean

    The storm is expected to become a tropical depression by Friday night and degenerate into a low pressure trough by late Saturday. It is expected to start weakening on Saturday as it heads northeast toward the Baja California peninsula.
    Kotkaniemi to start season with Canadiens

    Kotkaniemi to start season with Canadiens

    Decisions remain to be made on the blueline as the Senators are unsure whether they will carry seven or eight defencemen. Kotkaniemi won't lace up his skates for the team's last pre-season game tonight, however, against the Ottawa Senators.
  • MS  officers dead after shootout; wounded suspect in custody

    MS officers dead after shootout; wounded suspect in custody

    Mississippi Department of Public Safety spokesman Warren Strain said Flowers is the only suspect involved at a media briefing. The Mississippi Bureau of Investigation is working the case, in addition to other agencies, the Associated Press reports .
    Tottenham midfielder Dele Alli a doubt for Barcelona game

    Tottenham midfielder Dele Alli a doubt for Barcelona game

    Of course nobody helps because everyone wants the same players to play every single game. Alli starred on his full return against Watford in the Carabao Cup on Wednesday night.

    Cubs to host Brewers for NL Central tiebreaker game

    That pressure-packed matchup will also include the loser of the Dodgers-Rockies tiebreaker, which starts at 3:09 p.m. The third pre-wild-card tiebreaker victor , the 1980 Astros, lost to the Phillies in the NLCS.

    REVIEWS: "Night School" (Kevin Hart) - "Smallfoot"

    Night School has the benefit of having a capable and charming group of supporting characters who balance out the film. It was written by six screenwriters (usually a bad sign), one of them being Kevin Hart , who was also the producer.
    Forza Horizon 4 Is SO GOOD

    Forza Horizon 4 Is SO GOOD

    Considering the game has been getting astonishing reviews, people are keen to get behind the wheel as soon as possible. It's nearly the end of September, which means its time for new content on Xbox Live Gold and Xbox Game Pass .
    New Porsche 935 debuts at Rennsport Reunion, based on 911 GT2 RS

    New Porsche 935 debuts at Rennsport Reunion, based on 911 GT2 RS

    If you're a hardcore Porschephile, you'd know that these three digits mean a lot to the Stuttgart-based company. The new 935 is 316 mm longer than the GT2 RS , with that attractive long tail making up most of the difference.