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Decision expected today..
Milarky
Posts: 6,356 Forumite
....Court of Appeal; whether OFT has powers of investigation into bank charges under the 'unfair terms in contracts' legislation......
http://news.google.co.uk/news?ned=uk&ncl=1308517673
(Unfortunately either side could appeal. The banks, if they 'lose', can be almost certainly be expected to do so and drag this out and out - a case which is already nearly 2 years old and was meant to provide 'certainty' yet was also accompanied by a rolling FSA 'waiver' to banks to allow them to ignore customer complaints - the real source of pressure on them which would have produced a 'compromise' far, far quicker. Nice one Sir Adair... and I understand you're to take over the Banking Code in November... so no discernible improvement for bank customers there, either!)
http://news.google.co.uk/news?ned=uk&ncl=1308517673
(Unfortunately either side could appeal. The banks, if they 'lose', can be almost certainly be expected to do so and drag this out and out - a case which is already nearly 2 years old and was meant to provide 'certainty' yet was also accompanied by a rolling FSA 'waiver' to banks to allow them to ignore customer complaints - the real source of pressure on them which would have produced a 'compromise' far, far quicker. Nice one Sir Adair... and I understand you're to take over the Banking Code in November... so no discernible improvement for bank customers there, either!)
.....under construction.... COVID is a [discontinued] scam
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Comments
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Breaking news say it's subject to regulation by OFT, according to Sky. http://news.sky.com/skynews/Home/Politics/Bank-Charges-For-Unauthorised-Overdrafts-Are-Subject-To-Office-Of-Fair-Trading-Regulations/Article/200902415230206?lpos=Politics_Carousel_Region_1&lid=ARTICLE_15230206_Bank_Charges_For_Unauthorised_Overdrafts_Are_Subject_To_Office_Of_Fair_Trading_Regulations0
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