Bank Charges OFT Test Case Discussion

sjat81

I wish that was the case but I really doubt that they created the "credit cruch" to get funds to pay people their money back to the tune of 50 billion,

Another thing is why should they get this money in the first place as after all it is public money and they are refusing to reduce interest rates for home owners so they are getting their cake and eating it, ok 0.1% some have but its of little use to us.

This site has a user base of 2 million so if the outcome of the test case is not one that we agree with then maybe we could create an e petition, with that amount of people signing it "poss more" someone would have to listen for a change and stand up for the little man.

devil26

sjat81 wrote: »

I wish that was the case but I really doubt that they created the "credit cruch" to get funds to pay people their money back to the tune of 50 billion,

Another thing is why should they get this money in the first place as after all it is public money and they are refusing to reduce interest rates for home owners so they are getting their cake and eating it, ok 0.1% some have but its of little use to us.

We are of course dealing with the most underhand and dodgy institutions, the government and the banks, Anything can and probably will happen

C3P0_2

Wow! the decison has come a lot sooner than expected, i dont know if this is good or bad news for us! i really hope this is over with asap, but i doubt that very much. good luck to everyone waiting to hear

mystic_trev

C3P0 wrote: »

Wow! the decison has come a lot sooner than expected, i dont know if this is good or bad news for us! i really hope this is over with asap, but i doubt that very much. good luck to everyone waiting to hear

It's not the 'official' decision, but it looks like the BBC have 'inside information'

<TABLE class=storycontent cellSpacing=0 cellPadding=0><TBODY><TR><TD colSpan=2>Banks braced for charges defeat</TD></TR><TR><TD class=storybody><!-- S BO --><!-- S IIMA --><TABLE cellSpacing=0 cellPadding=0 width=226 align=right border=0><TBODY><TR><TD>


</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>http://news.bbc.co.uk/1/hi/business/7362856.stm

nickmack

mystic_trev wrote: »

It's not the 'official' decision, but it looks like the BBC have 'inside information'

I think it's unlikely they have any 'inside information', the article is simply saying the banks 'are preparing for every possibility'.

Dornoch_Guy

Like everyone else, I can not wait to hear the outcome.
I have had a claim in with HBOS since last july, with £6812 at stake for me, with about another £1200 in charges since then!

It could be a very nice holiday in 2009 as I am sure they wont pay out before then.

Good luck to everyone, lets hope the tide has turned!!!

devil26

nickmack wrote: »

I think it's unlikely they have any 'inside information', the article is simply saying the banks 'are preparing for every possibility'.

I remember reading somewhere that the banks had asked to hear the judgement first and preferably on a Friday to allow them to prepare for the deluge of calls etc.

Presumably they wil have to apply for another stay if they are going to appeal the decision as the existing stay was for this case to be heard and it already has been heard

kev2b3

devil26 wrote: »

I remember reading somewhere that the banks had asked to hear the judgement first and preferably on a Friday to allow them to prepare for the deluge of calls etc.

Presumably they wil have to apply for another stay if they are going to appeal the decision as the existing stay was for this case to be heard and it already has been heard

i also remember reading that the judge would give the banks two days grace. i would also take a guess and say that the bank have had many meetings with the fas and fos to discuss the matter of stays,just incase they lose.

Nathan_Spleen

Niether the banks or the OFT themselves will have notification of the judgment before tomorrow.

Justice Smith made it very clear that the 'embargoed' judgment would only be made privvy to 2 legal representitives of each bank and the OFT.

Their are strict rules in the commercial courts that prevent the parties themselves from having prior notice of judgment - not least to deter insider trading of shares.

sjat81

First post of the day! lol, who else is listening to the radio and checking online news even this early? the anticipation is killing me, viva the resistance.