In November, the Supreme Court ruled that the scale of bank charges could not be challenged as unfair under consumer contract rules. But a client of the Govan Law Centre has won the right to challenge the Bank of Scotland’s overdraft charges under …
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Bank overdraft charges face new legal attack – BBC Business
In the words of the OFT: ‘Banks earn around a third of their personal current account revenues from unarranged overdraft charges that are difficult to understand, not transparent and not subject to effective consumer control.’ And this leads to the …
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Are bank charges a victory for usury? – This is Money
The OFT today announced it was abandoning its legal fight against Britain’s banking sector over unauthorised overdraft charges, after the supreme court ruled in favour of the banks last month. Millions of bank customers and consumer groups had been …
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Q&A: Bank charges – The Guardian
In the words of the OFT: ‘Banks earn around a third of their personal current account revenues from unarranged overdraft charges that are difficult to understand, not transparent and not subject to effective consumer control.’ And this leads to the …
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‘Bank charges case is a victory for usury’ – This is Money
After nearly three years of trying to use the law to attack the scale of bank charges, the OFT has thrown in the towel. Last month, the Supreme Court told the OFT that it could not use part of the 1999 Unfair Terms in Consumer Contract Regulations to …
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Q&A: Bank overdraft charges – BBC Business
The decision follows last month’s Supreme Court ruling that the OFT could not use a part of the unfair consumer contract regulations to decide if bank charges were unfair. The court overturned earlier rulings that the charges, which can be as high as …
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OFT drops unfair bank charges case – Daily Telegraph
However, this saga has exposed a big hole in the UK’s consumer laws. The OFT thinks both the scale of bank charges and the way they are levied is unfair. But it has found it has no legal powers to do anything about them. The OFT said the charges were …
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Bank charges test case dropped by regulator – BBC Business
Banks should cut unauthorised borrowing fees or face a political backlash, the Government warns today. In an interview with The Independent , the Consumer Affairs minister, Kevin Brennan, said that unless banks heeded public anger ministers would …
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OFT poised to abandon bank charges case – The Independent
… test case in July 2007, to decide if the OFT had the powers to rule on the fairness of bank charges. A consumer campaign on the issue had led to hundreds of thousands of complaints which threatened to swamp the UK legal system. But after the …
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Regulator decides on bank overdraft charges test case – BBC Business
… test case in July 2007, to decide if the OFT had the powers to rule on the fairness of bank charges. A consumer campaign on the issue had led to hundreds of thousands of complaints which threatened to swamp the UK legal system. But after the …
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Regulator decides on bank overdraft charges test case – BBC Business
