Feeds

OFT mulls Egg probe

Insert oeuful egg pun here...

Intelligent flash storage arrays

The Office of Fair Trading is considering investigating online bank Egg over allegations that it is ditching credit card customers who pay off their bills every month and so avoid paying penalty charges.

Egg denies the claim saying that the 161,000 people told their cards were being withdrawn were considered a credit risk. The card holders targeted make up seven per cent of Egg's total credit card customer base.

A spokesman for the OFT confirmed they had received a complaint but said it was too early to say if a full investigation was likely. The spokesman said: "The FSA passed on a complaint they received from MP Nigel Griffiths. We are considering the complaint to decide whether or not to investigate it further."

In a statement last week Egg insisted that the decision to withdraw cards was motivated by risk assessment and not profit.

Egg said: "In this one-off review we assessed that the credit profiles of these customers had deteriorated from the time they joined Egg until the time Citi acquired Egg in May 2007 and that they presented a higher than acceptable credit risk to the bank."

Many customers have complained about the decision and claim there is nothing wrong with their credit records. Some are even calling for legal action against Egg, describing its statements regarding the withdrawal of cards as tantamount to libel. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.