OFT and Banks to decide on "fair charge"

lizziep

http://news.bbc.co.uk/1/hi/business/6918140.stm

if i've read this correctly then they are not going to accept any more applications...is this correct??

apologies if this is in the wrong place

Liz

cathdance

I just wanted to stand up and shout at that stupid women from The banking association:mad: but Martin put her right in her place!!! I was cheering him on.

He is amazing and i just love what he has done for somany people.

Sorry but i had to get that off my chest!!

I'm looking forward to hearing more.

Cathdance

machomanugget

We Are All Shafted Again By There Little Get Together...
How The Hell Can These People Decide Without Us To Suspend All Claims In Progress What A Con

Basically We Can All Kiss Goodbye To Our Refunds , There Is No Way We Are Gonna Get It Back Now

I Am Nearly As Mad As Martin Was On Channel 4 News , And That Women On There Im Not Even Gonna Start !!!!

tradelady

I started court proceedings last night which cost me £120. Does anybody know if it will still go through?

moped_mark

Is it me, or did Martin Lewis just kick @rse on channel 4 news?

lids_2001

it looks like only the claims from the FSA are suspended, your court claims still can go ahead. But...

this test case is this Friday, i am just about to start three claims, but i might hold off until i see the outcome. it could be £120 down the pan, then again.

cm1980_2

anyone just seen Channel 4 news with Martin?

He seemed surprised as anyone to find out that as of this evening the OFT have ruled with the banks that all claims are now suspended until the courts rule either way!

No wonder Halifax have tried to stall me for 70 days to provide me with my statements! I imagine when I reiceve them im now stuffed !!!!

sleeper1969

just read this on the bbc news web site and am now a bit worried, especially the part about Market watchdog the Financial Services Authority (FSA) will allow banks to suspend dealing with any claims filed against them until the test case is decided.
i have filed my case and it has been served and am now waiting for the 14 days and a response. if i read it correctly they will be able to stall and suspend any action by me till the big case is settled , which could be a long way off and lost by the OFT and mean i am wasting my time??? and none existant money. Any advice appreciated

http://news.bbc.co.uk/1/hi/business/6918140.stm

A number of UK banks, including HSBC, Lloyds TSB, Royal Bank of Scotland and Nationwide, have agreed to go to court in a test case about overdraft charges.

Banks have had a long-running battle with consumers over whether fees levied for unauthorised borrowing are legal.
The Office of Fair Trading will sue the banks claiming the charges are unfair.
Tens of thousands of cases have already been settled out of court, costing the banks millions of pounds in refunded charges, and clogging up local courts. <!-- E SF -->
Market watchdog the Financial Services Authority (FSA) will allow banks to suspend dealing with any claims filed against them until the test case is decided.
However, the banks will still need to make a note of any claims lodged, and will have to honour offers to settle claims that were made before the test case and waiver were announced. Angela Knight, chief executive of the British Bankers' Association (BBA) said that legal clarity was needed to end uncertainty for banks and consumers alike. and so on etc etc

Edinburghlass_2

Please read what the FOS has to say about claims now.

http://www.financial-ombudsman.org.uk/faq/bankcharges-testcase-quickguide.pdf

dan205

We all know money talks. The judges will no doubt be offered a few million to rule the charges just and fair and we'll all be shafted by a whitewash.

Well done Martin on the news, shame he wasn't allowed to give that woman a slap. She didn't actually seem to answer any questions, just put forth the cynical and biased view of the greedy banks who have a lot to lose over this.


The fact he wasn't included in early discussions shows the process is unfair already, he represents the people here and they know it.