The OFT meet Legal Beagles - any questions ?

[breeze1996]

Re: The OFT meet Legal Beagles - any questions ?

Will Charges be capped, or could there be a % increase only allowed each year?

To stop the banks pushing them slowly upwards.

[scoobydoo]

Re: The OFT meet Legal Beagles - any questions ?

Also in relation to PIL I would like to see some sort of standardised T&c where there is more than one section that is signed - such as :

I understand the OD rate is XXX
Sign

I understand the charges are XXXX

i understand that if I exeed the agreed OD the folowing will happen XXXX
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Will Charges be capped, or could there be a % increase only allowed each year?

To stop the banks pushing them slowly upwards.

Yes also there should be more notice given of increases in charges so that people could move to another bank account if the wanted to.

[Happyolddog]

Re: The OFT meet Legal Beagles - any questions ?

How about asking them if they are aware that the banks, specifically Barclays (that I know of anyway) are selling accounts awaiting a charges refund but are currently stayed and have been for some time, to debt collection agencies - which is a direct contravention of the FSA waiver rules.

Also ask them what action they plan to take against the banks for this poor practice and how they plan to stop it becoming common place.

Top question, this really needs to be addressed as it escalates the problem when a dca is getting onto people. An account where charges are being claimed and is on hold because of the stay, should not be allowed to get sold as bad debt.

[scoobydoo]

Re: The OFT meet Legal Beagles - any questions ?

Also
Why is it so hard for people who do try to contact the banks about hardship cases / charges to find an address and dedicated department or person to speak to. When you are suffering severe problems you need one person who you can deal with - no to be passed around from person to person. Also I think we are aware customers are not treated sympathetically thats why they tend to put off contacting anyone.
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When banks sell on debts they state that they are entitled to do so but that the DCA are also subscribing to the Banking code. But I guess this is not the experience of people on here?

[EXC]

Re: The OFT meet Legal Beagles - any questions ?

Also
Why is it so hard for people who do try to contact the banks about hardship cases / charges to find an address and dedicated department or person to speak to. When you are suffering severe problems you need one person who you can deal with - no to be passed around from person to person. Also I think we are aware customers are not treated sympathetically thats why they tend to put off contacting anyone.
?

That's really a question for the FSA as I doubt that it falls within the OFT's remit.

[TANZARELLI]

Re: The OFT meet Legal Beagles - any questions ?

How do they think its going in all honesty?

Do they think they could've done anything differently or better to date during the test case?

If the banks agree to set the fees at a standard level at any point will they consult with consumer groups regarding this?

Following the 'Calculating fair default charges in credit card contracts' why did it take so long for the OFT to take action regarding bank charges?

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PS well done for getting the meeting folks, thats a result.

[enaid]

Re: The OFT meet Legal Beagles - any questions ?

Will the banks ever treat it's customers fairly and like human beings again?

[Amethyst]

Re: The OFT meet Legal Beagles - any questions ?

Once they have made a decision on fairness of each abnks charges and made a crap document that means not a lot like credit cards will they get the banks back into court to disclose their costs to have a fair rate set by the court / capping etc whatever rather than simply persuasive arguments and reports that hold no water legally and allow people to continue claiming

[TANZARELLI]

Re: The OFT meet Legal Beagles - any questions ?

If the banks agree to set the fees at a standard level at any point will they consult with consumer groups regarding this?

Following the 'Calculating fair default charges in credit card contracts' why did it take so long for the OFT to take action regarding bank charges?

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PS well done for getting the meeting folks, thats a result.

Once they have made a decision on fairness of each abnks charges and made a crap document that means not a lot like credit cards will they get the banks back into court to disclose their costs to have a fair rate set by the court / capping etc whatever rather than simply persuasive arguments and reports that hold no water legally and allow people to continue claiming

You worded what I was trying to say but better Amethyst
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If its taken a high court test case to decide the complexities of current account and basic account charges, current T&C's and Historical T&C's and it goes in our favour then surely there is a strong arguement for arguing that the banks have deliberatley concealed the true nature of their charges from consumers using section 32 of the Limitations Act to be able to reclaim back any historical charges pre 6 years from any accounts they have that have them. What is the OFT's view on this?

[Amethyst]

Re: The OFT meet Legal Beagles - any questions ?

oops sorry wasnt trying to outdo you or owt lol.

Good question re limitations act. isnt mistake under s.32 too ? I cant help thinking we are covered either way - if the mistakenly believed they were within the law, or if the delibertaly concealed the true nature of charges....or do i read too much into mistake. anyway good question

[TANZARELLI]

Re: The OFT meet Legal Beagles - any questions ?

Whats the OFT's view on the way that the banks have deliberately and blatantly attempted to restructure their account T&C's, to make out they are fees for a service, obviously to cloak and veil the true reason behind their charging regime which has been to make a profit?

[Amethyst]

Re: The OFT meet Legal Beagles - any questions ?

Hows the Barclays Reserve Acc. review going ?

[Paule]

Re: The OFT meet Legal Beagles - any questions ?

As a side matter, we need to know how we can continue and develop our relationship with them.
Can we be involved in more of their studies and offer opinions to them, etc.
Can we access their studies to the benefit of our users etc.
What upcoming studies and research have they got planned?

We have got this far, more than other sites, and we need to keep up the momentum.

PKea

[Amethyst]

Re: The OFT meet Legal Beagles - any questions ?

Response and consultation to OFT PCA Report - Legal Beagles

This is the main basis of the meeting btw.

We are, in cahoots with Tom Brennan (cahoots is the wrong word but you get the idea), preparing a full formal response to the PCA consultation from Legal Beagles as a stakeholder and consumer group.

[Budgie]

Re: The OFT meet Legal Beagles - any questions ?

A couple of quickies from me, there will be more !!!!!

1) Why have the OFT, taking into account the slow progress of the test case and their initial findings that the terms for some or all Banks are unfair not yet applied for an injunction against the Banks to stop them applying any further charges until final resolution of the test case?

2) Most Customers reclaiming bank charges are applying some form of additional compensation to their claims by way of either statutory court interest or compound interest. What are the OFT's views on this and will they undertake to ensure that such a provision is included in the final resolution of the test case?