OFT says bank charges are unfair

Nathan_Spleen

http://news.bbc.co.uk/1/hi/business/7587840.stm

oldwiring

Did you with the BeeB have temporary blindness and a dose of inconsistency?
The text does not agree with the title. Moreover the OFT in this instance is dealing with one bank. It is not pronouncing on all.

The regulator tells RBS it has "serious concerns" that its overdraft terms might be unfair to its customers.

Nathan_Spleen

The OFT were invited to deny it. They didn't.

oldwiring

Means diddly squat all. They will not commit themselves until they have decided.

Nathan_Spleen

But they have decided. Justice Smith ordered the OFT, as part of the litigation proccess, that their decision on fairness should be submitted to him by 25 July and to the test case banks by the end of July.

borgbaiter

hi

will any of this become public?


Borgbaiter

Nathan_Spleen

borgbaiter wrote: »

hi

will any of this become public?


Borgbaiter

The letters to Justice Smith and the banks - extremely unlikely.

As to the OFT's conclusions on fairness, the last they told me was:

'''We are not yet in a position to say when we might make public any of the investigation findings, but it is something we are considering''

borgbaiter

Nathan_Spleen wrote: »

The letters to Justice Smith and the banks - extremely unlikely.

As to the OFT's conclusions on fairness, the last they told me was:

'''We are not yet in a position to say when we might make public any of the investigation findings, but it is something we are considering''

hi


thanks for the update. hard to believe justice is so secret.



Borgbaiter