Brits could benefit from Obama's proposals -
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Brits could benefit from Obama's proposals

Britons who move their savings abroad could benefit from proposals made by president Barack Obama.

The president has spoken out at credit card costs at a meeting with Bank of America and card provider American Express.

Mr Obama asked for the firms to end the expensive charges they levy against their customers, which could in turn make it cheaper for expatriates to move their money around.

"The days of any time, any reason rate hikes and late fee traps have to end. No more fine print, no more confusing terms and conditions," he said.

Furthermore, the president asked banks to improve their terms and conditions, to make them easier for their customers to understand.

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