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[MSE Lawrence]

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "An Open letter to the Prime Minister on Bank Charges" Blog.

Click reply to discuss

[Paul_Herring]

The letter is below, and will be simultaneously be emailed to Gordon Brown’s office after being posted here.

Simultaneously be emailed to GB and who else?

We’ve already received and published replies from the Tories and Lib Dems on this. Nick Clegg has pledged support for automatic payback, David Cameron that payback must be swift and he will look at automatic payback.

While I notice Mr Clegg has pledged his support for automatic payback, it's somewhat disappointing that Mr Cameron hasn't.

I expect even more fluffiness off Mr Brown's office should they deign to reply. Something along the lines of "we are thinking of looking into making swift payments," no doubt.

[terricfan]

Laudable letter, Martin, but I think you'll be waiting until after Gordon's given a full, frank and honest of his involvement in the Lockerbie bomber's release before you get a reply. ie. a cold day in hell. Call me a cynic....

rgds,
Cynic.

[pmduk]

Surely the largest unanswered petition is that asking him to resign? Let's hope he responds affirmatively to that one first.

[MSE Martin]

Originally Posted by pmduk

Surely the largest unanswered petition is that asking him to resign? Let's hope he responds affirmatively to that one first.

Very good point - i've changed that text to

"We were delighted to see you take interest in this crucial issue, especially as the ‘Bank Charges Consumer Charter’ posted on the number 10 website in Summer 2007 held the undistinguished honour of being the largest ever petition you chose not to respond to."

[Bigal]

I am certain that the bank charges should automatically be paid back to all. The banks over the years have changed from a service industry to a predatory industry and it is time that the Government took a stronger stance against them.

[liquidated]

All I have to say is, good luck getting a reply .

[allan2006]

I think they should automatically be repaid too, think this would be so much fairer. Obviously the people in the most need will probable be the ones that dont know how or understand they can reclaim.

On the otherside of the coin, its goin to cost the banks more if they pay back automatically.

I think as it stands you can reclaim the last 6 years charges, would it not be a fair compromise if say the banks automatically calculated the last 4 years then wrote with an offer of that?

If you wanted to reclaim the full 6 then it would be down to the individuall to get the info, fill the forms and do the leg work themselves.

[Headieboy]

Does anyone honestly think the banks will automatically repay the billions they have siphoned off from people accounts over the years given the current state of the banking system?

Given the fact that Gordon (is a moron) Brown and his government didn't / wouldn't respond to the previous No10 petition, do you think he'll reply to this open letter?. Nick Clegg says he backs automatic repayments but does anyone really think the Lib Dems will form the next Government and the Tories and Labour have too much vested interest (too many peers / donators on the boards of banks) to force automatic repayments.

I think they should be forced to automatically repay all the money. It's just a pity you can only reclaim for the last 6 years as about 12 years ago I was only getting something along the lines of £650 per month and the bank was taking over £100 every month!

[MothballsWallet]

Martin, I just hope that Brown reads it and isn't too busy ducking the proverbial mud that's going to be slung his way after the summer recess.

Heck, this sort of mess makes me want to stand for Parliament...

[allan2006]

out with the old in with the new, the whole systems a mess. Whats worse is its stacked agains the poor and joe average

[Martinslovechild]

A nice email, Martin.



I, like others here, share a sense of scepticism around whether Gordon Brown will either:-

• Choose to reply
  or
• Reply, but in a way which allows the government to drag their feet and eventually ignore the issue (i.e. the government may 'consider' your points in a future House of Commons meeting - but the result may well be 'no change')

I've often wondered how much the government receives in bribes 'political donations' from the likes of the big credit card companies & banks.

After all, the banks rely completely on people requiring credit (read 'debt') and hopefully (for the banks at least) people making financial mistakes. The Government rely on people spending to keep the economy moving. The Government therefore need the banks more than the banks need the Government.

Put these two things together and the result is pure dynamite. Whilst the Government must be 'seen' to be taking tough actions on banks, they can't make it too tough or else the economy may struggle. However, make it too easy and a recession might occur.

In a nutshell, if the Government decides to support the consumer on this issue then it's likely that some of the banks will threaten to close branches and/or make thousands of bank workers unemployed. I believe that this is why David Cameron is offering a lot of rhetoric on this subject but not much in the way of real substance.

I truly hope that you succeed, but I fear the eventual outcome might be messy... similar to one of those high-profile tobacco/cancer court cases which takes years to go through court, somebody eventually wins but then nobody ever seems to get paid because the tobacco companies can afford the best legal teams in the world. Many banks have access to similar legal teams...

[bacardiancoke]

As it took 13 days for him to respond to an unavoidable issue in the spotlight (Adelbaset Ali al-Megrahi) then I wouldn't hold your breath on a response before the new year for this one.

[bubbles65]

Originally Posted by Martinslovechild

The Government rely on people spending to keep the economy moving.

So if the banks give us back the stolen cash, what better way to stimulate the economy?.........Remember when everyone was getting payouts from their Building Societies turning into banks, that 'windfall' pumped a lot of money into the economy. Far better than printing money!

[allan2006]

The banks are broke, where do you think the money will come from if they have to return it.....the govt.

I can see the goverment siding with the banks in a ruling.

[Keep The Change]

The longer the bank charges claim is on hold, the more our debts accumulate. We're desperate for a resolution. We also have a PPI claim against One-Stop Money Shop who haven't yet replied and a Welcome Finance PPI claim that's been turned down. It feels like we've fallen through a net and are vulnerable to all those sharks out there. Could any MP ever imagine being in that space? Not likely. Feeling glum at the moment about money and would welcome a bit of encouragement.

[janck]

Thank you Martin for writing the letter to the PM on our behalf.
Is there anything we, the public, can do to help the process?
I agree entirely that Bank charges should be an automatic payout, we always have to fight for everything in this Country and without you we wouldn't have a clue where to start!

[Triumph1000]

I am quite willing to let the wheels of justice turn, slowly, but they do turn. In a case like this, the final outcome CANNOT and MUST not be hurried, or it will be too open to "interpretation" by the banks. I would rather wait until the final i has been dotted and the final t crossed. That way there is no possibility of any "interpretation" by the banks because if there is any restitution ordered then they will certainly "interpret" the rules to suit themselves. We have to be on our guard as I DO NOT trust this lying cheating government or the thieving deceitful banks 1 mm, as parliament is full of ex bankers!!! Need I say more! As for automatic repayments, I`m not too keen on this as its those very banks, who ripped us off, who`ll have to perform the financial acrobatics. I would rather see an outside European (i.e. Independant) agency taking care of the repayments. O.K it`ll take longer, but who do you trust, them, or our banks, its a no brainer as far as I`m concerned. As an aside, I beat a wheel clamper yesterday, so I`m over the moon on TWO things now!!!!!

[MSE Martin]

An update on this the PM has replied see

Gordon Brown responds on bank charges