Action Taken by OFT in two years before closing

**EXC** · 27th June 2014, 16:07:PM

Re: Action Taken by OFT in two years before closing

Some notable action they didn't take in the last two years was sitting on evidence that landed in their lap in 2011 that Wonga had faked solicitors letters and fees until the OFT closed their doors and handed the file to FCA who were then powerless to punish them.

**Amethyst** · 27th June 2014, 16:13:PM

Re: Action Taken by OFT in two years before closing

Most of the links are actually broken on that list just noticed, will try get all the right docs and upload them.

In the FCA's defence they are actually doing something whereas the OFT did pretty much sweet fanny adams.

Actually I wondered if the FCA had taken over from the OFT in umm 2006 - would they have bought the bank charges case?

**Fred** · 27th June 2014, 16:34:PM

Re: Action Taken by OFT in two years before closing

Chasing the data for the FIrstplus reprimand two years & counting.

**EXC** · 27th June 2014, 16:38:PM

Re: Action Taken by OFT in two years before closing

Originally posted by Amethyst View Post

Actually I wondered if the FCA had taken over from the OFT in umm 2006 - would they have bought the bank charges case?

Absolutely they would but whoever the regulator was they would have been under massive pressure to bring the test case from the banks and the court system.

Remember this? http://news.bbc.co.uk/1/hi/business/7987808.stm

Nearly a million complaints pending and the 27,000 cases in the court system was a underestimate. It was Tom that made the FoI request to MOJ that came up with that figure but the search had to be done manually by the names of the defendants on the claims, so for example they might have searched for 'National Westminster Bank' but not 'Nat West' or 'Nat West Bank' so the figure could have been a lot higher.

**EXC** · 27th June 2014, 16:42:PM

Re: Action Taken by OFT in two years before closing

Actually it wasn't 27000 but 65000 http://news.bbc.co.uk/1/hi/business/7880745.stm

**Amethyst** · 27th June 2014, 16:46:PM

Re: Action Taken by OFT in two years before closing

Originally posted by EXC View Post

Absolutely they would but whoever the regulator was they would have been under massive pressure to bring the test case from the banks and the court system.

Remember this? http://news.bbc.co.uk/1/hi/business/7987808.stm

Nearly a million complaints pending and the 27,000 cases in the court system was a underestimate. It was Tom that made the FoI request to MOJ that came up with that figure but the search had to be done manually by the names of the defendants on the claims, so for example they might have searched for 'National Westminster Bank' but not 'Nat West' or 'Nat West Bank' so the figure could have been a lot higher.

Ahhh haven't seen that video for ages, good times lol xx

**EXC** · 27th June 2014, 16:51:PM

Re: Action Taken by OFT in two years before closing

Originally posted by Amethyst View Post

Ahhh haven't seen that video for ages, good times lol xx

Good times indeed huh?

Action Taken by OFT in two years before closing

Action Taken by OFT in two years before closing

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