Responding to the Treasury’s announcement on Simple Financial Products
A Which? spokesperson said:
“We welcome proposals to develop simple products and provide consumers with clear information so that it’s easier for them to compare savings, insurance and other financial products.
“Consumers should not have to wade through pages of terms and conditions, instead we want to see clearer, concise and jargon-free information so that consumers know exactly what rates and charges they will get, can compare products more easily, and get a fair deal. The same products should be called the same name across the market.
“We look forward to seeing how the financial services industry responds and we will continue to work with them and the Government so that consumers best interests are taken into account.”