Post by Steve Gardner on Apr 26, 2008 18:45:38 GMT
Round One to the consumer, I suppose. But you just know the banks will drag this out over years and, over time, the impact of any ruling against them will likely be diminished.
I hate these predatory bastards. As someone who lost a business some years ago, I have a particularly painful experience of bank charges. There's few things more irritating that a bank writing to tell you that you have no money, then charging you £30+ you don't have for the 'service'.
Source and full article: BBC
I hate these predatory bastards. As someone who lost a business some years ago, I have a particularly painful experience of bank charges. There's few things more irritating that a bank writing to tell you that you have no money, then charging you £30+ you don't have for the 'service'.
Source and full article: BBC
Campaigners are cock-a-hoop that the OFT has been given a green light to rule that bank overdraft charges are unfair.
However it is the end of the beginning, rather than the beginning of the end.
More court hearings - possibly many more - loom in the coming months and the whole issue may stretch well into next year.
For a start, either the banks or the OFT could appeal.
If they think they have sufficiently strong grounds, then such an appeal might go first to the Appeal Court and even to the House of Lords.
If the banks decided to string out this part the dispute, which is purely about the jurisdiction of the OFT, it might seem at odds with their public stance that they want to see the legal issues resolved as quickly as possible.
But with so much money at stake they might feel that they had no choice.
