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MSE News: Vince Cable tables bank charges refunds motion
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Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"Lib Dems Shadow Chancellor Vince Cable has tabled an early day motion in Parliament this week calling on banks and building societies to refund 'unfair' overdraft charges ..."
"Lib Dems Shadow Chancellor Vince Cable has tabled an early day motion in Parliament this week calling on banks and building societies to refund 'unfair' overdraft charges ..."
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Comments
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Good on the LIB DEMS lets hope lots more get behind him and get the ball rollin0
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Interesting...
It's certainly not over by a long shot.0 -
This lot might get my vote next year. I like to see myself as middle class, this being the case I seem to get shafted by Labour (they seem to look after lower classes) and the Tories (they seem to look after the upper classes).
Maybe the Tories will have to get in bed with the Lib Dems and we might get a result.
Getting to like this cable guy (thats a film isn't it?) giving grief to the BANKERS twice in two days. Good on you mate.:beer:0 -
I think the Banking Code may have trouble being amended as it no longer exists and has been replaced by BCOBS regualted by the FSA as of 1st November this year.
Early Day Motion
EDM 283
BANK PENALTY CHARGES
30.11.2009
Cable, Vincent
That this House notes the judgement of the Supreme Court that banks and building societies were legally entitled to charge penalty fees for unauthorised overdrafts; further notes that the Supreme Court conclusion was not a judgement on the fairness of such charges; condemns the disproportionate penalty charges levied on customers by banks and building societies; welcomes the Office of Fair Trading's assessment that such charges are unfair; urges the Office of Fair Trading to continue to pursue this issue using the other powers available to it; calls on the British Bankers' Association to amend the Banking Code to make explicit the industry's principles on service charges; further calls on the Government to review existing pricing structures; and further calls on banks and building societies to voluntarily refund unfair and disproportionate penalty charges.
Otherwise nice to see LibDems still supporting us.LegalBeagles0 -
Mohammed Sarwar introduced his Excessive Charges Bill about 6 months ago as an Early Day Motion. It went to a second reading in November.....he abandoned the bill. I did email him to ask the question and his response was.......nothing, nada not even an acknowledgement.
EDM's usually are there to draw attention to an issue rather than to actually do anything specific. In fact hardly any of the EDM's ever become law.
Nice to see that he is on the side of the consumer(not that I ever doubted that he was anyway).0 -
Aye be handy if he ever gets any power whatsoever.
He's on the Financial Services Bill Committee too if anyones interested.LegalBeagles0 -
Let's hope he keeps pushing it and gets the whole house behind him. Thing is, if they refund our charges it is more money to go into the economy and less in the fat cats back pockets.0
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if mr vince cable can get my charges refunded he gets my vote ,where do i sign.missed direct debit charges,very odd,theres no pain so how come the big gain,i.e £39.00 for a letter0
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whats all this lower and upper class stuff,we are born equal in this world.This lot might get my vote next year. I like to see myself as middle class, this being the case I seem to get shafted by Labour (they seem to look after lower classes) and the Tories (they seem to look after the upper classes).
Maybe the Tories will have to get in bed with the Lib Dems and we might get a result.
Getting to like this cable guy (thats a film isn't it?) giving grief to the BANKERS twice in two days. Good on you mate.:beer:missed direct debit charges,very odd,theres no pain so how come the big gain,i.e £39.00 for a letter0 -
A online petition sent to MP,s would be a good step !0
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