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OFT May Cop Out Of Test Case

2

Comments

  • i smell a monumental stitch up come the OFT report. so much for protecting consumers grrrr
    claimed/settled - Natwest £2,535/£2,535, HSBC visa £80/£80, MBNA £1,258/£1,258, capital one £282/£282, tesco visa £515/£515, HSBC visa £140/£140. HSBC £1,450 MCOL Stayed for OFT case. Chelsea Mortgage charges & cashback £5000/£672. complaints with banks pending OFT Halifax £30, A&L £35. TOTALS £11,325/£5482
  • ''The Office of Fair Trading (OFT) could drop next year's High Court test case over bank overdraft charges, a senior official has said.''


    http://news.bbc.co.uk/1/hi/business/6989510.stm

    After reading this i looked into it a bit further.

    GUESS WHO THIS MAN USED TO WORK FOR!

    Read this off the OFT site.

    Cavendish Elithorn is currently responsible for Preliminary Investigation, enquiries and Resource Allocation at the OFT. His team is responsible for analysis of complaints submitted to the OFT and proposing what action should be taken. Cavendish joined the OFT in 2004 working on the market studies programme, and he led the recent restructuring of the OFT. Previously, he was a Senior Manager at Capital One Bank (Europe). Cavendish brings a range of experience to his new role, having been at the forefront of a major programme of change at the OFT and creation and delivery of financial projects for a major international bank.
  • If you cast your mind back to BBC's whistleblower you might remember one
    Christine Farnish whom Barclays wheeled out to defend Barclays indefensible
    banking tactics before and after the show.

    And what did she do prior to joining Barclays some six months earlier?
    She was a director of the ...er..OFT.
  • LoL just as i thought, we are all going to be stitched up good and proper!

    I have read about it on the BBC site and still cant work out what this will mean with all these ppl paying and queueing up for court dates, all the money they have already paid back, and how on earth can the OFT say that this is in our best interests ????

    They certainly know how to !!!! everyone off and what a suprise just like everything else in this country its a GREAT BIG CON !

    Totally !!!!ed off waiting for court :/
  • Think now might be the time if you get one of those goodwill settlements to do like we did.

    We accepted it but made it clear in a letter to the bank it was in part settlement and we would expect the rest at some later stage after the court case.
    I'm stressed enough over this - please don't add to it.:eek: :cry:
  • But surley if the case is dropped then there would be no excuse for the banks to apply for a stay in court?.
  • if these charges are discovered to indeed be a "fee for a service", then the following questions need to be answered:

    Did I get the option when I signed up to my account to opt out of receiving this "service" at any point? - NO

    Will I get the option to drop this service from my account in future? I don't think so.

    This suggests that I had my account missold to me - can I therefore claim this back in the same way I can for PPI?
  • if these charges are discovered to indeed be a "fee for a service", then the following questions need to be answered:

    Did I get the option when I signed up to my account to opt out of receiving this "service" at any point? - NO

    Will I get the option to drop this service from my account in future? I don't think so.

    This suggests that I had my account missold to me - can I therefore claim this back in the same way I can for PPI?


    hi there dose anyone have im idea when this test case is going to be heard.

    cheers nick.x
  • nickmack
    nickmack Posts: 4,435 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    nikk1776 wrote: »
    hi there dose anyone have im idea when this test case is going to be heard.

    If it goes ahead, it's expected to be heard on 14 January 2008.
  • AlexisV
    AlexisV Posts: 1,890 Forumite
    What I find troubling is the remark that the OFT agrees in most instances that the charges are not penalties. However they are still unfair. How do they come to that conclusion
    I think it does cost the banks some money, but the point is that it should be £75p, not £12 or £30 ie. in proportion to the real cost.
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