MSE News: Bank charges result at 9.45am Wednesday

The_Hallowed_Way

aligerdie wrote: »

I don't think the reputation of Martin Lewis has been hit for six - if that's your view, perhaps you should consider expressing it somewhere other than his website.....

This forum was set up simply so that Martin Lewis could cherry pick other peoples' posts and use the best bits of information in his (i.e. it has his name at the top) newsletters and constant appearances on TV. He did not set up this website out of the goodness of his own heart.

I have contributed several posts in the past which have been included in the main newsletter. That's fair enough but in return I expect to be able to express my opinion, even if it is critical of Lewis.

[Deleted User]

I've just read the judgment and it makes actually quite encouraging reading.

Firstly, the judges were rather sympathetic with the consumers who have had their claims on hand.

One key question raised by Lord Mance is whether the banks are guilty of acting as a 'Reverse Robin Hood' - and whether the banking model needs to change. The question is whether the 'average' consumer is a prudent in-credit one, or whether in today's credit crunch environment they are actually regularly overdrawn.

The judgement is focussed on the narrow issue of the OFT's ability to interpret contractual terms under UCTA as given direct effect by the relevant European Directive - not to rule on whether the charges were unfair.

The key issue which is worth being optimistic about is that the judges DID think that the charges were a bit unfair but that the contractual element was outside of the OFT's jurisdiction.

If you read the judgment, you'll see that the banks are suggesting action DOES need to be taken in the form of competition investigations and challenges through that route: the issue isn't that the charges are unfair, but that there is no competition for charges to be lowered and no ability for consumers to freely move between different banks.

So, plenty to digest!

Snakeeyes21

jamespir wrote: »

its porbably the same person as the other idiot on here

An idiot for having a different view to you?
I would say the idiots are those who have raked up thousands of pounds of charges, when I received charges it made me not to do it again.

jamespir

Felix_kentish wrote: »

Cause he's one of these 'rich' people that want to rub it in our faces.
Just like the corrupt Lords.

rich dont make me laugh hes a troll hes probably got less money than i have

The_Hallowed_Way

Insomniac666 wrote: »

TROLL!! :mad:

No it's not a troll. It's an opposing point of view.

tiff25

so we should all expect a smug letter from our banks soon saying your getting nothing!!

what a joke

a11waysindebt

Crabman wrote: »

No, because then it would be suggested that the OfT had done the same with the High Court and Court of Appeal in order to win those cases.

The point here is that the decision has gone in completely the other direction to previous decisions.

I don't think there's anything dodgy in terms of the result but it is somewhat puzzling. Only when the Judgement has been looked at properly will we be able to understand the reason the High Court and Court of Appeal were wrong.

It was an appeal by the banks, it could have gone either way. The banks won.

You can't just appeal after appeal. Unfortunately it has gone this way. I will suffer aswell as a result, but have made sure I have the money in the bank and only purchase what I can afford.

jamespir

atlastcommonsense wrote: »

Because I am happy that common sense has won.

Why are you insulting me, can you not hold a civil conversation without resorting to insulting people ?

calling us all !!!!!! and martin lewis a smug !!!!!! is not insulting people then cause in my school it was

santiago7_2

The charges are unlawful and they wont pay out because they are all in it together! The judges are out buying new houses and cars as we speak with the backhander they just got!!

jamespir

Snakeeyes21 wrote: »

An idiot for having a different view to you?
I would say the idiots are those who have raked up thousands of pounds of charges, when I received charges it made me not to do it again.

either way hes an idiot he joined a sight to slag of its members and the person who owns

tell you waht ill invite him for a beer to congratulate him shall i :rolleyes: