OFT ponders bank fees deal

[Legal Beagles]

The Office of Fair Trading may drop next year's High Court test case over bank overdraft charges, an official says.

Click here to read more...

[enaid]

Re: OFT ponders bank fees deal

So if the OFT work out the charges say at £10 and the banks say we will charge £9.99 then that is the end of it?
.
All this to be done behind closed doors again, so we the people who this is all to be helping, still have no clue of the actual cost of the charges.

Or have I read it wrong again lol?

[iancognito]

Re: OFT ponders bank fees deal

And....if they do drop the case, what will happen to all those claims currently pending - I assume we carry on, as with credit cards and argue the toss between their 'fair' charge and the charges we actually incurred?

[Paradox]

Re: OFT ponders bank fees deal

If they "drop" the case, there is no ruling, therefore, business as usual IMO. There's no ruling, so no case law.

It'll be the same as the credit card "report" that was released saying that the OFT would investigate any fees above £12. We're still challenging them and winning!

however, lets not speculate, it hasn't happened yet and may not happen.

Time will tell.