A judge has ruled against Britain’s banks in a case relating to overdraft charges. Mr Justice Andrew Smith judged that the Office of Fair Trading (OFT) could rule on the fairness of charges – an issue which has caused a great deal of controversy amongst consumers in recent times. Although Smith warned his ruling didn’t necessarily mean the charges were unfair, it provides the Office of Fair Trading with scope to decide on the legality of the charges.
Since the start of 2006, hundreds of millions of pounds have been reclaimed from banks by customers unhappy at the overdraft charges. Tens of thousands of claims have been delayed since banks and the Office of Fair Trading agreed to stage the test case.
Britains Banks Lose Overdraft Charge Test Case
Britains Banks Lose Overdraft Charge Test Case
Mon, 28 Apr 2008
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