The OFT rules on bank charges
The Office of Fair Trading (OFT) recently lost an important
Supreme Court test case on appeal against a consortium of High
Street banks in late 2009. For the average consumer this will mean
that it will no longer be an automatic success to reclaim unfair
overdraft charges. For the banks it will mean a return of over £2.5
bn per year which they accrue from these charges alone.
OFT bank charges and the consumer - what does it mean for you?
The fact that the test case was lost does not mean an end to
consumer groups efforts to redress the disproportionate penalties
incurred by the consumer for various banking infractions.
Consumers may still petition for redress over penalties
associated with credit cards and payment protection plans as these
were not a part of the recent Supreme Court ruling vis a vis OFT
bank charges.
Claims Financial are experts in navigating the changing terrain
of legal requirements and responsibilities. Our team of experts
will take your case on a no win no fee basis. To see if your case
has merit for appeal please fill out the adjacent form and one of
our advisors will contact you shortly.
"I just had to put pen to paper and write to say I'm more than delighted with my settlement that you won me back from my PPI I had with Lloyds TSB. The Claim Forms were simple to fill in. It was a breeze"
Mr R Evans 11 Nov 2010