In summary;

Banks are going to behave with a little more responsibility with the credit they provide and not throw credit out to people who can't afford it.

Not before time. However too late to prove that Gordon Brown ran the country on a consumer credit fuelled spending spree.

Salty, Reading,

About time too - too much easy money has been pushed the way of those who can ill afford, but not need it. I'm sure there will be some who resort to 'loan sharks' however for the majority, they will learn to live more easily within their means.

Graham, Fleet, Hampshire

the goverment should guarantee all our savings
this would bring back consumer confidence.
Its about time that banks stopped excess borrowing on credit cards, maybe the public will think twice about over spending.
massive credit fuelled this crazy buy now pay later attitude by people who could not normally afford the goods they bought.
I tore up my credit cards years ago.
I spend what I can afford.

neil roberts, coutances , france

We emigrated to France nearly four years ago and one thing that we have found so different are the laws on lending. Very much more controlled here in France, something that would have saved so many back in UK over recent years?

Laura & Paul Southon, Villemoustaussou, 11620, France.

Time for clarity. If there is little risk of banks failing then the cost of protecting deposits of any size should be low.
Even relatively poor people can find themselves with large bank deposits eg between house sale and purchase or meeting death duty bills. In such cases protecting £100K or more is important.
Perhaps the time has come to offer deposit protection insurance at modest cost.

Richard Bayley, Winchester, Hampshire

This is fantastic news. Finally the banks are going to reign in credit facilities and that will reduce consumer spending in the high street. Big ticket items such as holidays and cars will be particularly be hit. Sales will fall and sales staff will either be laid off or have their commissions reduced. Finally those that have precipitated Britain's decline by buying ever increasing amounts of foreign manufactured goods will fall on their swords. I predict dire economic collapse as the twin pillars of easy credit, and consumer spending goes into reverse. 75% of our economy is based around finance, housing and consumer spending. Finally Government is going to pay the price for allowing the collapse of manufacturing industry and the 9 million jobs lost since 1964.

Simon, Scunthorpe, Lincolnshire

Does anyone remember Farepak? Northern Rock savers get bailed out by this Government - but ordinary working class Scots putting precious cash aside for Christmas can get shafted by capitalism any no-one in the Government bats an eyelid. I think it may be a theme of this faux-labour Government; distaste for the British working classes.

E Craig, Gourin,

About time. They should also limit the salary multiplier for mortgages too to something that has been proven to be generally manageable like 3 x salary.

Alan, Midlands,

I buzzing with fury - this is the predictable outcome of greedy banks. 20 years ago I was battling with the banks who were showering my 4 daughters with offers of credit when they had absolutely no collateral making my job as a parent teaching financial reposnsibilty so much harder!
Now their self righteous posturing behaving as if it is all the fault of the consumers (who would have to have been totally immune to millions spent in advertising luring people into debt for the past 20 years) makes me feel SO angry but also so helpless.
Solo Mother or 4 for 16 years (not her choice)

R.Stenhouse, Edinburgh, Scotland

I think it's a little niave to think we can just increase the level of protection for deposits up to £100,000. Put quite simply, banks like any other business are out to generate a profit. They will be forced to increase the cost of banking for everyone, never mind those already being quite rightly charged for misusing their accounts. Like any insurance there is a cost, and the consumer will pay. After all it's they who are being protected, so why should they not pay!

Steve, Milton Keynes, England

Good for Darling! Cost banks too much for protection? Rot! Considering the zillions they make in profit - to say nothing of the illegal overdraft charge ripoff! They have a nerve!
I am in the process of taking Abbey to court.

Catherine, Glasgow, UK