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Bank overdraft charges face new legal attack
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=6465		 Page 1 of 1
Author:  MrStevenRogers [ Tue Feb 23, 2010 4:08 am ]
Post subject:  Bank overdraft charges face new legal attack
Quote:
A law centre in Scotland has revived the legal campaign against bank overdraft charges.

In November, the Supreme Court ruled that the scale of bank charges could not be challenged as unfair under consumer contract rules.

But a client of the Govan Law Centre has won the right to challenge the Bank of Scotland's overdraft charges under the Consumer Credit Act.

The bank will now have to demonstrate that its charges are not excessive.


http://news.bbc.co.uk/1/hi/business/8528209.stm

i hope that there are many many more cases against the banks in the near future …
Author:  l3v1ck [ Tue Feb 23, 2010 10:35 am ]
Post subject:  Re: Bank overdraft charges face new legal attack
I'm selfish so I don't.
I can manage my money, so I'd rather they make their profits out of people that can't rather than bringing in fees for other services that I currently get for free (or adjust their interest rates etc).
Author:  finlay666 [ Tue Feb 23, 2010 10:54 am ]
Post subject:  Re: Bank overdraft charges face new legal attack
l3v1ck wrote:
I'm selfish so I don't.
I can manage my money, so I'd rather they make their profits out of people that can't rather than bringing in fees for other services that I currently get for free (or adjust their interest rates etc).

+1 as said in the other conversations
Author:  belchingmatt [ Tue Feb 23, 2010 11:06 am ]
Post subject:  Re: Bank overdraft charges face new legal attack
+1

You enter a contract where the charges aren't hidden, deal with it. Are the charges disproportionate, maybe, so if you don't like them don't get in a position where you have to pay them.
Author:  MrStevenRogers [ Tue Feb 23, 2010 3:51 pm ]
Post subject:  Re: Bank overdraft charges face new legal attack
we will have to wait and see the outcome of the court case/s (/smiley) …
Author:  jonbwfc [ Tue Feb 23, 2010 4:56 pm ]
Post subject:  Re: Bank overdraft charges face new legal attack
belchingmatt wrote:
+1

You enter a contract where the charges aren't hidden, deal with it. Are the charges disproportionate, maybe, so if you don't like them don't get in a position where you have to pay them.

I have some sympathy for this as a view but the law (especially in Scotland, where there's a greater tradition of the courts taking what you might call ethical considerations into account) looks at it a different way. Contracts cannot be enforced if they are seen to be excessively punitive. If they can prove that to a court, they will have legal recourse to get their money back.

I don't think in reality anyone thinks charging someone 30 quid for a letter to tell them they're overdrawn is anything other than punitive but it's a case of proving it within the strictures of the law.

Jon
Author:  AlunD [ Tue Feb 23, 2010 5:06 pm ]
Post subject:  Re: Bank overdraft charges face new legal attack
The fact that the charges don't effect me is cool, however I really don't see any point in hitting somebody who is struggling financially with £30 every time the bank writes you a letter telling you are over drawn. Seems bloody daft to me. :roll:
Author:  MrStevenRogers [ Tue Feb 23, 2010 5:30 pm ]
Post subject:  Re: Bank overdraft charges face new legal attack
AlunD wrote:
The fact that the charges don't effect me is cool, however I really don't see any point in hitting somebody who is struggling financially with £30 every time the bank writes you a letter telling you are over drawn. Seems bloody daft to me. :roll:


and a tad bit greedy, banks you gotta luv 'em …
Author:  AlunD [ Tue Feb 23, 2010 5:43 pm ]
Post subject:  Re: Bank overdraft charges face new legal attack
MrStevenRogers wrote:
AlunD wrote:
The fact that the charges don't effect me is cool, however I really don't see any point in hitting somebody who is struggling financially with £30 every time the bank writes you a letter telling you are over drawn. Seems bloody daft to me. :roll:


and a tad bit greedy, banks you gotta luv 'em …

or Hate them :D
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