More than 16 million working people in the UK have less than £100 ($128) in savings, while roughly 17 million people are unable to pay off their monthly credit card balances, according to a report by the Financial Conduct Authority (FCA). The FCA, which is investigating whether banks and building societies should be forced to increase interest rates on existing loans, said that it was “concerned” about the impact of rising costs for mortgages and other
More than 16 million working people in the UK have less than £100 ($128) in savings, while roughly 17 million people are unable to pay off their monthly credit card balances, according to a report by the Financial Conduct Authority (FCA). "There is a huge crisis with personal debt that the government has ignored for far too long," said Labour MP John Mann, a member of the Treasury Select Committee.