Re: OFT let consumers down AGAIN on Overdraft Charges
Well it seems as though it's "business as usual" as far as the banks are concerned. I feel
that it is now pointless to trust ANY so called institution that claims to be working "On behalf of the consumer". It's obvious to me that a more "adversarial" approach is called for because nobody at a certain level of the financial and regulatory food chain really
wants to upset the banks. All I've been reading about for the past few weeks is how
various banks and so called regulatory bodiies (consisting of ex-bankers I might add)
seek to profit at the expense of those who are not part of the clique of the well heeled
and collude to ensure they make money while those "outside the tent" as it were get
nada. Self evident perhaps and one could say it was ever thus. However this has now
got to an extreme and unless Legal Beagle,CAG etc continue to fight ever more
aggressively ,then things will DEFINITELY get worse. Another battle lost,
yes but NOT the war. Even if we throw in the towel don't we think that someone else
isn't going to say "I've had enough" . I have. It's difficult, it's tiring, it's frustrating,it's
annoying but it's essential things continue but perhaps a little more creatively.
As far as I can see certain institutions can no longer be trusted to act on behalf of those
they say they serve. I feel it's will be better to be more selective and circumspect in
dealing with those institutions and politicians who say they want the "input" of
Consumer organisations. The average joe and jane has been stabbed in the back yet
again- another painful lesson learned but as is often saidwhat doesn't kill you
can only make you stronger!
Thincat.
Well it seems as though it's "business as usual" as far as the banks are concerned. I feel
that it is now pointless to trust ANY so called institution that claims to be working "On behalf of the consumer". It's obvious to me that a more "adversarial" approach is called for because nobody at a certain level of the financial and regulatory food chain really
wants to upset the banks. All I've been reading about for the past few weeks is how
various banks and so called regulatory bodiies (consisting of ex-bankers I might add)
seek to profit at the expense of those who are not part of the clique of the well heeled
and collude to ensure they make money while those "outside the tent" as it were get
nada. Self evident perhaps and one could say it was ever thus. However this has now
got to an extreme and unless Legal Beagle,CAG etc continue to fight ever more
aggressively ,then things will DEFINITELY get worse. Another battle lost,
yes but NOT the war. Even if we throw in the towel don't we think that someone else
isn't going to say "I've had enough" . I have. It's difficult, it's tiring, it's frustrating,it's
annoying but it's essential things continue but perhaps a little more creatively.
As far as I can see certain institutions can no longer be trusted to act on behalf of those
they say they serve. I feel it's will be better to be more selective and circumspect in
dealing with those institutions and politicians who say they want the "input" of
Consumer organisations. The average joe and jane has been stabbed in the back yet
again- another painful lesson learned but as is often saidwhat doesn't kill you
can only make you stronger!
Thincat.
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