Last year, the Financial Services Authority (FSA) whacked a massive fine on mortgage lending company GMAC-RFC for starting repossession proceedings too early. Now, GMAC-RFC conducts no new business in the UK and as well as the £2.8 million slap on the wrist, the US based lender had to repay £7.7 million to the customers concerned.

The thing is, what GMAC-RFC did is just as bad as all the extortionate bank and credit card charges that other lenders charged leaving people overdraen and in serious debt. Yet those lenders go unpunished and have their actions sanctioned by a Supreme Court. As usual in this odd financial system we have, it’s one rule for one set of customers and another rule for another. Get it sorted, someone.

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