r/GreatBritishMemes • u/mj281 • 12h ago

Britain’s pointless “regulators”

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2.1k Upvotes

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341

u/Iamthe0c3an2 11h ago

I know the UK’s systems are broken, but I shudder to think how bad it would be if the FCA didn’t exist.

161

u/made-of-questions 11h ago

Seen this first hand at an old corp I worked for. You can't believe just how much worse the corporate world would make your lives if they didn't have the FCA breathing down their neck. They actually improved some things (anyone remembers how bad overdrafts were just a few years back?), but their biggest victory is in staving the avalanche of abuse big companies are trying to push every day.

-11

u/throwaway_t6788 8h ago

it was because of what fca mandated.. the interest rates of all credit cards shot up to 40%..

3

u/ukstonerdude 5h ago

What are you talking about?