MSE News: OFT 'to drop' bank charges case

natweststaffmember

LilacPixie wrote: »

OK can someone clarify a few points for me because i seem to be missing something.

*OFT say in principle charges are unfair and are looking for a point of law to allow them to judge fairness officially with a full investigation.
They have already completed their investigation on fairness.
*Supreme court rules that they cannot judge fairness based on the disproportionate penalty of the charge but do not close the door totally.
They have ruled out penalties in law before the SC decision but they seem to have ruled out price considerations with regards to the package of services.
*OFT are possibly/probably going to announce at 7am tomorrow that they will not be persuing the case further.

I just don't understand why. Surely the Office of Fair Trading should be persuing cases where it feels consumers are being treated unfairly.

I think it is called £££££. The Test case cost a lot of money and realistically got us little further forward in terms of the legalities of bank charges but a lot further in terms of the changes that banks made to their charging structures.

natweststaffmember

Sol00 wrote: »

I predict another disappointing announcement like the one we had a few weeks ago :mad:

Initially the decision will be disappointing and then we'll read it and maybe either understand it or find hope within that announcement.

Furthermore, I predict a riot(sorry I couldn't resist )

gt94sss2

Following the Supreme Court's judgment last month, the OFT has today announced its next steps in securing changes to unarranged overdraft charges and the wider personal current account market.

The Supreme Court found that unarranged overdraft charging terms in the contracts considered are not assessable in full under the Unfair Terms in Consumer Contract Regulations 1999 ('UTCCRs').


After detailed consideration of the judgment and of the various options available to it, the OFT has concluded that any investigation it were to continue into the fairness of current unarranged overdraft charging terms under the UTCCRs would have a very limited scope and low prospects of success. Given this, it has decided against taking forward such an investigation.

More from the official announcement


Regards
Sunil

fermi

As predicted.

BBC NEWS - The Office of Fair Trading decides not to take further court action over bank charges

oscar52

Beaten to it.

fermi

OFT press release...

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> http://www.oft.gov.uk/news/press/2009/144-09

Premier_2

natweststaffmember wrote: »

Premier, mate, what have I gotta do to get you to work out what will happen?? Do I have to spell it out in primary school language?? ...

Of course, if there was a compromise deal(not my preferred method) then so be it.

First of all, I'm not your mate, You don't even know me.

Secondly allow me to help you in a language you understand.

It's over - forget it.

If, as they do, the OFT and their huge legal team believe they have no chance of making a legal claim stick, what chance have you?

WASHER

Premier wrote: »

It's over - forget it.

If, as they do, the OFT and their huge legal team believe they have no chance of making a legal claim stick, what chance have you?

Totally agree, its over, no-one, not even Martin and his top notch barrister will get anywhere now if they decide to persue it.

stebiz

Well as somebody who has dealt with the OFT on a number of issues over the years, they are as useless as a snowman when the sun comes out.

And that is from somebody who has already been refunded his charges.
Shame on you OFT. Spineless - which is why the banks have got away with so much for so long!!!

orc_2

Premier wrote: »

It's over - forget it.

If, as they do, the OFT and their huge legal team believe they have no chance of making a legal claim stick, what chance have you?

It's not over yet. That is not what the OFT said.