Bank Charges, Decision?????

DotingDad

Nathan_Spleen wrote: »

http://news.bbc.co.uk/1/hi/business/7904748.stm

Keep up!

Thanks. I'd missed that.

Perhaps they will also adopt a "hands on" approach with RBS etc in due course.

Who knows?

Back to topic less than 24 hours to wait now for the Court of Appeal judgement.

Nathan_Spleen

DotingDad wrote: »

Good question.

I assume that the answer is because the Government does not want to expose itself to any more risk than it has to.

Did you actually read the question?

glodh1973

ok sorry if this is a stupid ? but does this mean a final decision will be made tomorrow or will something else happen

glo

DotingDad

Nathan_Spleen wrote: »

Did you actually read the question?

Yes I did thank you.

I realise your surname is Spleen but there is no need to vent it as often as you do;)

You yourself said earlier in the thread that the Government had no representatives on the boards where it is a controlling shareholder. Hence the stance up until now has been "laissez faire."

The Government is effectively a guarantor of troubled banks as things stand so has not actively influenced day to day transactions up to now. As you point out with your Northern Rock link that stance may be about to change as the crisis worsens and the Government may start to adopt a more "hands on" approach.

However it has to be remembered that we are talking about taxpayers (our) money if the Government gets too involved which takes us neatly back to the concerns I expressed re liabilities if the OFT wins the test case when I came into this thread.

DotingDad

glodh1973 wrote: »

ok sorry if this is a stupid ? but does this mean a final decision will be made tomorrow or will something else happen

glo

Nobody knows is the short answer.

Nathan_Spleen

No. It's to determine if the Court of Appeal will uphold the original judgment that the OFT can apply the rules of fairness to the charges. The issue of whether the charges are actually unfair will be decided in later court hearings yet to be scheduled, subject to the OFT winning this appeal and any further appeal.

At tomorrow's hearing the OFT will apply for leave to appeal either the judgment/declaration on penalties or the judgement on Plain Intelligable Language. HSBC will also apply for leave to appeal on PIL.

Nathan_Spleen

DotingDad wrote: »

Yes I did thank you.

I realise your surname is Spleen but there is no need to vent it as often as you do;)

You yourself said earlier in the thread that the Government had no representatives on the boards where it is a controlling shareholder. Hence the stance up until now has been "laissez faire."

The Government is effectively a guarantor of troubled banks as things stand so has not actively influenced day to day transactions up to now. As you point out with your Northern Rock link that stance may be about to change as the crisis worsens and the Government may start to adopt a more "hands on" approach.

However it has to be remembered that we are talking about taxpayers (our) money if the Government gets too involved which takes us neatly back to the concerns I expressed re liabilities if the OFT wins the test case when I came into this thread.

Clearly you have little or no understanding of the issues you are discussing. Yet you feel you have the authority to brand people as 'Naive' if they don't believe that the Master of the Rolls plus 2 other distinguished judges and the government will conspire to fix the case when in fact you have nothing to back this up aside from your imagination.

When the OFT win the appeal tomorrow - and I'd bet my house on it - I hope you'll be suitably humbled.

borgbaiter

hi

in a perfect world, given the oft win tommorrow, and the banks dont appeal, would the cases stayed be unstayed (must be a proper term for that).

or is it then down to the OFT to say yes the charges are unfair?



Borgbaiter

Nathan_Spleen

There's no chance of the stays being lifted regardless of the outcome of tomorrows hearing I'm afraid.


The best case senario is once the issue of the applicability of UTCCR is decided (either tomorrow or after the banks it appeal to the House of Lords) the OFT's view that the charges are unfair (which is a given) will be challenged in court either by way of Judiicial Review or in the High Court, so a long way to go yet.

borgbaiter

hi

thats going to cause a lot of suffering. im really fed up of the whole slooooooooooooooow process.

only winners here seem to be the banks as usual.

more time = less claimants = less to pay out.


Borgbaiter