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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 23rd Jun 09, 10:51 AM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    MSE News Story: Bank Charges House of Lords hearing starts today
    • #1
    • 23rd Jun 09, 10:51 AM
    MSE News Story: Bank Charges House of Lords hearing starts today 23rd Jun 09 at 10:51 AM
    This thread is to discuss the following news story:


    Last edited by Former MSE Natasha; 23-06-2009 at 11:35 AM.
Page 1
  • jos004
    • #2
    • 23rd Jun 09, 12:42 PM
    • #2
    • 23rd Jun 09, 12:42 PM
    Just hope we get a good result, in favour of the claimant.
  • MrLeeLee
    • #3
    • 23rd Jun 09, 12:53 PM
    • #3
    • 23rd Jun 09, 12:53 PM
    'but it's likely the decision from the judges won't be made for several months, possibly not until October'

    -sighs-
  • natweststaffmember
    • #4
    • 23rd Jun 09, 1:05 PM
    • #4
    • 23rd Jun 09, 1:05 PM
    I wish Martin would realise that this is the first stage of a two part Test case.
    Martin, if the HoL agree that the terms are assessable for hardship then the OFT will ask for voluntary compliance, which judging so far is unlikely so we will have further litigation and the saga goes on BUT we will be over 50% there. If the Banks' lose I would be very surprised if it was referred to the ECJ since the European Courts are more consumer friendly than here in the UK.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • jayk84
    • #5
    • 23rd Jun 09, 7:31 PM
    • #5
    • 23rd Jun 09, 7:31 PM
    If this is the 1st part then when is the 2nd? I was under the assumption that this was a final appeal hearing at the HoL and come October when summer has passed we should have a final result...:confused:
  • natweststaffmember
    • #6
    • 23rd Jun 09, 7:33 PM
    • #6
    • 23rd Jun 09, 7:33 PM
    If this is the 1st part then when is the 2nd? I was under the assumption that this was a final appeal hearing at the HoL and come October when summer has passed we should have a final result...:confused:
    Originally posted by jayk84
    the preliminary issues are about whether the bank terms can be assessed under UTCCR 1999, the next stage is the substantial issues. The OFT website has all the details on there.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
    • oscar52
    • By oscar52 23rd Jun 09, 8:02 PM
    • 2,231 Posts
    • 1,175 Thanks
    oscar52
    • #7
    • 23rd Jun 09, 8:02 PM
    • #7
    • 23rd Jun 09, 8:02 PM
    'but it's likely the decision from the judges won't be made for several months, possibly not until October'
    -sighs-
    Originally posted by MrLeeLee
    Possible - Personally, I dont think it will be that long. They have "other charges" claimed by "fewer other people" to discuss at the moment.
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
    • claretmatt
    • By claretmatt 24th Jun 09, 9:26 AM
    • 220 Posts
    • 276 Thanks
    claretmatt
    • #8
    • 24th Jun 09, 9:26 AM
    • #8
    • 24th Jun 09, 9:26 AM
    Nice to see that responsible people will be punished for the actions of the irresponsible

    http://www.citywire.co.uk/adviser/-/news/other/content.aspx?ID=346330&Page=2
  • bazzason
    • #9
    • 24th Jun 09, 10:52 AM
    • #9
    • 24th Jun 09, 10:52 AM
    this was always going to be the banks answer, as reports this morning have already said they were "supporting the costs of current accounts" using the bank charges revenue they collected.

    is that really where the revenue went? it seems unlikely, and simply sounds like the banks PR dept diverting focus away from their disputable practices...
  • Oeillade
    Nice to see that responsible people will be punished for the actions of the irresponsible

    http://www.citywire.co.uk/adviser/-/news/other/content.aspx?ID=346330&Page=2
    Originally posted by claretmatt
    Not just irresponsible, unlucky as well and for many, many other reasons beyond peoples control not because they wanted to!
    • oscar52
    • By oscar52 24th Jun 09, 4:40 PM
    • 2,231 Posts
    • 1,175 Thanks
    oscar52
    Nice to see that responsible people will be punished for the actions of the irresponsible
    by claretmatt
    Not just irresponsible, unlucky as well and for many, many other reasons beyond peoples control not because they wanted to!
    Originally posted by Oeillade
    Unless they are talking about the banks of course.
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
  • natweststaffmember
    Nice to see that responsible people will be punished for the actions of the irresponsible

    http://www.citywire.co.uk/adviser/-/news/other/content.aspx?ID=346330&Page=2
    Originally posted by claretmatt
    Do you believe that everyone who receive charges started by looking for a bank account that will charge them the most? I am lucky enough to be one of the likely punishable persons since I have never had a charge on my main account. I never opened a bank account with the purpose of incurring charges but not every single person are irresponsible, some people do like to feed their kids over their household bills, some people lose their jobs meaning that they are unable to meet their basic needs. Some people believed the bank were being helpful offering credit to alleviate their financial problems(and being a former banker, products sold= for me so yes the right advice was always given to the customer--yeah, right!).
    There are simply "the responsible" and "the irresponsible", had banks acted within the legal framework of the law then they would not have the issues that they have today. I would still be working for them as well (not sure if that is a good thing or not ).
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
    • robpw2
    • By robpw2 24th Jun 09, 5:49 PM
    • 12,646 Posts
    • 26,389 Thanks
    robpw2
    i dont disagree with paying a charge for making a mistake but its about proportionality
    if you go over by 1p then 39 is extremlely excesive

    besides what is the 39 for this is the problem .. they don't seem to be able to explain why it cost so much and yet year on year banks are making huge profits \(this year i know this has isnt so true)


    Slimming world start 28/01/2012 starting weight 21st 2.5lb current weight 17st 9-total loss 3st 7.5lb
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    • Widelats
    • By Widelats 24th Jun 09, 7:09 PM
    • 3,640 Posts
    • 2,716 Thanks
    Widelats
    'but it's likely the decision from the judges won't be made for several months, possibly not until October'

    -sighs-
    Originally posted by MrLeeLee
    I can't see for the life in me what makes them take so much time to make a decision. I truly, truly hate the courts and their time frames for a yes or no, it is beyond me.
    Owed out = lots.
  • natweststaffmember
    I can't see for the life in me what makes them take so much time to make a decision. I truly, truly hate the courts and their time frames for a yes or no, it is beyond me.
    Originally posted by Widelats
    have you ever made a decision on the spot and wished you had taken time to think about it and do something else? This is kinda the same thing, however, the verbal argument is one element to the case and the evidence submitted is another one. Furthermore, they also have other cases as well. It is frustrating but it has to be done for legal certainty
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
    • Gorgeous George
    • By Gorgeous George 24th Jun 09, 7:48 PM
    • 7,797 Posts
    • 8,484 Thanks
    Gorgeous George
    The wheels of Justice turn slowly.

    The Court will decide whether or not the charges were unfair My opinion is that they were not (unfair) and that an unauthorised overdraft is tantramount to theft. On the other hand, charging more than is necesary so that the errant customer remains in downwards spiral is unhelpful and not how I would want to be treated. Therefore I would not treat others in such a way.

    I do not accept that anybody had to go overdrawn. They either chose to or they chose not to make sure that they didn't (go overdrawn). The banks should have charged the fee once and closed the account for a second offence.

    If the banks lose, it will be a sad day. I'd rather see new guidelines (or laws) introduced to ensure a fairer system is put in place but claims should not be allowed retrospectively.

    I fear the taxpayer will end up paying the compensation but wish all MSEers well in their quest. In my younger days, I paid bank charges most months. It was my fault.

    My name is George and I am (or was) a debtaholic.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • thefly76
    nonsense!!! of course to charge 36 for a error that cost a tenth of it to correct is unfair. that is more like theft than going a quid over your limit!! due to ill health last year i couldnt make mortgage or cc payments and it tookmonths for any of my health insurance policies to pay out by which time it was eaten up by charges. Fair??? i think not!!!
    • Gorgeous George
    • By Gorgeous George 24th Jun 09, 9:32 PM
    • 7,797 Posts
    • 8,484 Thanks
    Gorgeous George
    Maybe so.

    I was fined 30 for parking in a car park but failing to buy a ticket. A ticket would have cost 50p. Can I claim it back?

    I was fined 60 for speeding at 35mph (safely) in a 30mph zone. Can I claim it back?

    Of course, the answer is no. Life doesn't have to be fair.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • DjDarryL
    Ive gone through hell with Lloyds TSB. Statment everymonth and at the bottom... we will debait 250 as of the 1st next month. now im using a joint account and my main one is over 1000 in debt because of CHARGES!!! phone calls 3 times a week from bank but foot down and get my money back that ive been charged hundreds a month! disgusting
    • oscar52
    • By oscar52 24th Jun 09, 9:57 PM
    • 2,231 Posts
    • 1,175 Thanks
    oscar52
    I was fined 60 for speeding at 35mph (safely) in a 30mph zone. Can I claim it back?
    GG
    Originally posted by Gorgeous George
    If you consider this to be safe, I suggest you go and read the Highway Code - pay attention to the bit about "braking distances" - see how much difference 5mph makes.

    If you still consider it to be safe, put your name, address and driving license details on here - I'm quite sure someone will be interested in a person who continually flauts and has total disrespect for the law.
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
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