LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

[dogtired]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Well done!

[enaid]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

And it reached the Daily Star


Victory for the broke! Crippling overdraft charges case could spark £1bn bank payout


GOOD news for students and those in debt – excessive overdraft fees may become a thing of the past after a landmark court victory over a top bank.
By Nathan Blades / Published 22nd September 2014

BREAKTHROUGH: Oliver Foster-Burnell's court battle against Lloyds Bank could help those in overdraft debt across the UK [TWITTER]
Banks with terms and conditions that pile on crippling fees could find themselves having to pay back an estimated £1 billion to overdraft-suffering customers by next year — perfect for those with student loan woes.
The change began to take place after Oliver Foster-Burnell, 28, won a case against Lloyds Bank for hitting his account with steeply rising fees that pushed him into a spiral of debt.
Charged with over £700 in fees, the public health worker was unable to pay other bills... which pushed him even further into the red.

“It is unfair the banking industry is allowed to profit while people suffer financial hardship”
Oliver Foster-Burnell

However, a judge at Taunton County Court ruled that the bank's terms and conditions were significantly imbalanced and a detriment to Oliver, ordering Lloyds Bank to reimburse him £743 in charges – plus interest.
This is the first time a customer has triumphed over a bank's unfair charges since 2009, when it was deemed banks couldn't be challenged over fee refunds.
Though the court ruling only applies to Oliver's case at the moment, he and his solicitor, Howlett Clarke, are appealing for certain fee terms and conditions from banks to be considered unfair for everyone.
If they are successful, banks could be facing a billion-pound payout to customers claiming refunds.
Oliver, from Taunton, said: "It is unfair the banking industry is allowed to profit while people suffer financial hardship."By applying these charges and allowing them to snowball out of control, it skews the imbalance.
"We want the court to consider that such a system of charges can hit anyone badly — not just those in hardship — and is therefore unfair and needs to be changed."
The ruling is not expected until next year, so Oliver's case is not yet a legal precedent, though judges can use the case as guidance in their decisions.

http://www.dailystar.co.uk/news/late...nd-bank-payout

[orfoster]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

It did indeed, they pinched my Twitter picture! And also quoted me saying something I never said but never mind. That's media for you!

Possibly more to come today, if you don't get MSE Weekly e-mail it might be good to sign up

[Amethyst]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

I'll look out for it

You're getting a bit famous now Oli

[orfoster]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

I'll look out for it

You're getting a bit famous now Oli

im buying shades and a disguise hat. Walking through town yesterday two locals stopped and asked if they saw me in the Mail!

[MIKE770]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

im buying shades and a disguise hat. Walking through town yesterday two locals stopped and asked if they saw me in the Mail!

next time walk through French Weir then Wood street, up to James street & Cannon street, only one person maybe ask you then! lol = incognito!

[orfoster]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Lol - on a serious note though, it wasn't me that won this case, credit has to go to Celestine and Tom Brennan.

The Daily Mail wrongly said that I found ECJ rulings, I didnt, that was Tom and Kate. But then that is journalism for you I guess.

[ncf355]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

im buying shades and a disguise hat. Walking through town yesterday two locals stopped and asked if they saw me in the Mail!

That's Taunton for you Oli, small town - could be worse, could be WSM!

[MIKE770]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

That's Taunton for you Oli, small town - could be worse, could be WSM!

WSM Nooooooooooooo Burnham ON Mud:tinysmile_twink_t2:

[ncf355]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

LOL, I'm saying nothing (I'm local, but I count all toes present and correct)

[MIKE770]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Born Taunton originally

[Nibbler]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Another MSE article


http://www.moneysavingexpert.com/new...ks-it-could-be

[Nibbler]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Possibly more to come today, if you don't get MSE Weekly e-mail it might be good to sign up

Yes, it's in there. Web version of what is going out today. --> http://www.moneysavingexpert.com/latesttip/#bankcharges

[orfoster]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Another Daily Mail article! A bit more in depth, shame I didn't say what I'm quoted but never mind http://www.dailymail.co.uk/news/article-2770911/Banks-face-paying-billions-customer-wins-landmark-legal-battle-against-Lloyds-unfair-750-fine-just-2-67-overdrawn.html

[orfoster]

Re: LegalBeagle Wins Bank Charge Case - Lloyds Overdraft Terms deemed Unfair

Mirror have picked it up as well http://www.mirror.co.uk/news/uk-news...ictory-4329713