Speaking at a Treasury Select Committee mortgage arrears evidence session this morning, Myners said the FSA should pay attention to this area.
He said: “I do have a concern that there is a risk that charges could be excessive and the FSA needs to give that enough attention in its work.”
Earlier in the session, the FSA said it was looking into this area as part of its review of the mortgage market.
Last week, Which?, Shelter and the Citizens Advice Bureau all raised concerns over this issue saying that some lenders were charging as much as £150 for a debt counsellor to visit customers in arrears and up to £75 to send a letter to them.
Which? principal policy adviser Dominic Lindley said the FSA should name and shame lenders who were doing this but the FSA says it will only name lenders if it takes enforcement action against them.
The FSA has referred four lenders to enforcement for investigation over poor arrears handling.
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