UK banks ripping consumers off - Cable

UK banks

are continuing to rip consumers off - particularly on overdraft rates. A new Panorama program to be broadcast tonight will show how some banks are charging up to 365% interest rates for unauthorised overdrafts.

Worst offenders include big names like Barclays and Bank of Scotland (part of the Lloyds group and part-owned by the taxpayer). Vince Cable has criticised the banks for ripping off customers and says he's determined to see a more competitive UK banking sector.