Bank Charges, Decision?????

FatcatFodder

In reference to previous I find this a bit thought provoking:

"the Government itself has suddenly found itself funding a substantial part of the banking sector. The dynamics have therefore changed. If the OFT win the case it will not be "fat cat bankers" refunding charges in many cases but effectively the taxpayer. In the present economic circumstances that is politically sensitive"

Totally correct, so who is funding this?

Sir Fred Goodwin, the former chief executive of Royal Bank of Scotland, is already drawing a pension of £650,000 a year,[...]RBS, which is 70% owned by taxpayers
http://news.bbc.co.uk/1/hi/business/7911532.stm

Slightly insensitive for taxpayers surely? Drifting slightly into politics but Sir Fred should be paid by RBS only if it considers it appropriate, as 30% or £195,000 not the taxpayer. The alternate should be letting them go bust, in which case Sir Fred would could suppliment any financial struggles he experiences [sarcasm intended!] by applying for State Pension after reaching eligable age (currently in 15 years time).
Back into context why should the Government decide that this pension is valid and not allow payback of at least a proportion of this charges to each of us? (Assuming that they will pressure some influence on law).

borgbaiter

hi

ignoring politics altogether my point is many people wont live to see any refunds and many more will not bother reclaiming. if it goes on for 2 more years will anyone even remember they were reclaiming?

im starting to feel 2 more years is even being optomistic as the oft has joined in the appeals process. does the new oft appeal go before the appeal to the house of lords? probably?

im hoping something is said tommorrow to give some sort of timescale but i honestly dont see it happening

Borgbaiter

FatcatFodder

borgbaiter wrote: »

hi

ignoring politics altogether my point is many people wont live to see any refunds and many more will not bother reclaiming. if it goes on for 2 more years will anyone even remember they were reclaiming?

im starting to feel 2 more years is even being optomistic as the oft has joined in the appeals process. does the new oft appeal go before the appeal to the house of lords? probably?

im hoping something is said tommorrow to give some sort of timescale but i honestly dont see it happening

Borgbaiter

The court, OFT and Banks have now gathered together and the latest available photo is available LOL:
http://blogs.mirror.co.uk/premier-league-fans/Magic_roundabout.jpg