Lawyer: Bank charges legal challenge still possible

Tuesday, 22, Dec 2009 10:34

Mike Dailly of Govan's Law Centre comments on the Today programme about the Office of Fair Trading's (OFT) decision to stop its legal pursuit against overdraft bank charges:

"This is a very dark day for consumers in the UK. Effectively the OFT has pushed a million consumers overboard without a lifejacket. There are about 50,000 court cases on ice in the UK. The banks will quickly move to have them struck out. The Financial Ombudsman Service has got about 15,000 complaints in terms of bank charges. There's a million complaints which have been held by the banks which the banks will move to have struck out.

"The bizarre thing here is the supreme court had said that its judgment reflected a very narrow part of the regulations. That was because the banks had agreed with the OFT on the scope of the argument. The supreme court said very clearly the door remained open to a challenge to the fairness of bank charges under a different part of the regulations."

Tories: Bank charges move is blow for consumers

The Conservatives' shadow Treasury minister Mark Hoban comments on the Office of Fair Trading's decision to abandon its investigation into bank overdraft charges:

Lawyer: Bank charges legal challenge still possible

Mike Dailly of Govan's Law Centre comments on the Today programme about the Office of Fair Trading's (OFT) decision to stop its legal pursuit against overdraft bank charges:

BBA: Banks understand customers' concerns on overdraft charges

The British Bankers Association delivers its reaction to news that OFT has abandoned its investigation against bank charges:

OFT: Options still open against bank charges

The Office of Fair Trading's chief executive John Fingleton explains his decision on the bank charges judgment:

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