News Tag: Supreme Court
March 16, 2010
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 ...
Consumers to benefit from overdraft opt-out
by Kay Murchie
December 22, 2009
Consumer watchdog, the Office of Fair Trading (OFT), has announced it is to abandon plans to take further legal action against banks regarding unauthorised overdraft charges.
At the end of last month, the Supreme Court ruled in favour of the banks over the fairness of the charges.
The test case originally commenced in July 2007 after it was discovered ...
OFT scraps plans to take further court action against banks
by Kay Murchie
November 30, 2009
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 ...
Lloyds seeks to dismiss overdraft cases
by Kay Murchie
November 25, 2009
The Supreme Court has today ruled in favour of the banks over the fairness of unauthorised overdraft charges.
The legal battle, which has been ongoing since July 2007, will come as a devastating blow to consumer groups who have been campaigning for many years about the charges, which they deem to be unfair.
However, Lord Phillips, president of the Supreme Court said: ...
Banks win legal battle over unauthorised charges
by Kay Murchie
Unfair bank charges - Supreme Court to decide today
by Kay Murchie
November 17, 2009
The ongoing legal battle between eight high street banks and the Office of Fair Trading (OFT) over unauthorised overdraft charges might actually reach a conclusion next week.
Wednesday 25 November is the date that has been set for the Supreme Court to decide whether the OFT has the power to assess whether or not bank charges are fair.
Banks and building societies were ...
Wednesday 25 November is judgement day
by Kay Murchie
September 9, 2009
Consumer advice sites Moneyfacts and uSwitch.com have reacted with cynicism to the Royal Bank of Scotland's (RBS) decision to lower overdraft fees.
RBS and sister bank NatWest cut unauthorised overdraft fees in half to £15 earlier this week.
Charges for bounced cheques were reduced from £38 to £5.
The changes come ahead of a ruling by the Supreme Court which will decide whether the ...
Is RBS pre-empting the Supreme Court?
by David Masters
September 7, 2009
Royal Bank of Scotland (RBS), which is 70% owned by the Government, has slashed its overdraft charges - ahead of the decision by the Supreme Court over whether or not the Office of Fair Trading (OFT) can regulate these charges.
The changes, which come into effect on October 1, will also affect NatWest customers and will see the ...
RBS cuts overdraft charges ahead of Supreme Court decision
by Kay Murchie