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News Tag: legal battle

March 16, 2010

Consumers to benefit from overdraft opt-out

by Kay Murchie
’Consumers
Consumer watchdog, the Office of Fair Trading (OFT), has today revealed UK banks may soon be offering customers the ability to opt out of unarranged overdraft facilities. Should the procedure be put in place, it would mean consumers would avoid hefty fees if they slipped into the red. The announcement comes as the OFT took legal action against banks regarding unauthorised overdraft ...



November 30, 2009

Lloyds seeks to dismiss overdraft cases

by Kay Murchie
”Lloyds
Last week, the Supreme Court ruled in favour of the banks over the fairness of unauthorised overdraft charges. The legal battle, which has been ongoing since July 2007, came as a devastating blow to consumer groups who have been campaigning for many years about the charges, which they deem to be unfair. Since the ruling, banking giant Lloyds said it is seeking to ...



November 25, 2009

Unfair bank charges - Supreme Court to decide today

by Kay Murchie
”Unfair
The ongoing legal battle between seven high street banks and one building society could reach a conclusion today. The Supreme Court will decide whether the Office of Fair Trading (OFT) has the power to assess whether or not bank charges are fair. The case, which has been ongoing for more than two years, could see banks refund millions of pounds ...