This letter was designed to take money from vulnerable consumers by distressing, frightening and misleading them.
The convenience sector has changed rapidly, and given our evidence and the importance of this market for consumers, our provisional view is that it would be appropriate for the Competition Commission to investigate.
If the banks didn't want a lot of this scrutiny we would see prices pretty close to cost in these markets (PPI), and we're not seeing that.
With this case I would have been shocked if they (MasterCard) hadn't appealed. This is a market where there's been litigation all over the world and there are very few countries where there's a settled debate about that.
Consumers who lose money to scams have very little chance of getting any of it back. So it is essential that, in addition to enforcing the law against scammers, we equip consumers with the skills and knowledge necessary to avoid falling victim to them in the first place.
We don't have too much sympathy if they are overcharging their customers and not making much effort to make sure customers are making informed choices.
We believe it is necessary to make this interim direction to protect the public interest in maintaining as competitive a market as possible.
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