News Tag: unauthorised
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 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
November 5, 2009
Swiss banking giant UBS has been fined £8 million by the Financial Services Authority (FSA) - the third largest penalty ever handed out by the UK regulator.
However, the fine would have been £10 million but the Swiss bank agreed to settle with the FSA at an early stage.
The bank, which is Switzerland’s fourth largest, was fined for failing to stop four ...
Swiss bank UBS fined £8m
by Kay Murchie
February 26, 2009
A ruling by the court of appeal could see millions of pounds returned to customers after the case of unauthorised overdraft charges was thrown out.
The ruling follows a test case last year between the Office of Fair Trading (OFT) and eight High Street Banks with regard to charges for unauthorised borrowing and bounced ...
Millions of pounds set to return to customers as overdraft charges case thrown out
by Kay Murchie
