Newsroom

OFT launches store cards study

PN 120/03     17 September 2003

The OFT has launched a study into store cards following a commitment made to the Treasury Select Committee.

 The study will consider areas of concern raised by the committee including:

• application of competition law
• marketing and sales practices
• transparency issues
• interest rates.

The study is an informal fact-finding review and is not being carried out under the OFT's enforcement powers. The OFT will be speaking to industry participants and consumer bodies as part of the review, which is expected to be published early in the new year. The OFT will then state what further action, if any, it proposes to take.

NOTES

1. The OFT Chairman John Vickers appeared before the Treasury Select Committee on 9 September 2003.

2. The fact-finding study is being carried out under the Enterprise Act.

3. Anyone who would like to contribute to the study should email storecards@oft.gov.uk.

Back to:2003