OFT Test Case - as it happens

[Xena]

Re: Day 1 - OFT Test Case - as it happens

would not apply to Rabinowitz, who's more likely to be charging that amount an hour!

No wonder he is for the charges regime if on that sort of money!!!

Bloody hell!!!

[enaid]

Re: Day 1 - OFT Test Case - as it happens

Tom also reckoned that the reported £1000 a day the QCs were on would not apply to Rabinowitz, who's more likely to be charging that amount an hour!

Now that is criminal and shifty IMO msl:

[EXC]

Re: Day 1 - OFT Test Case - as it happens

Tom also reckoned that the reported £1000 a day the QCs were on would not apply to Rabinowitz, who's more likely to be charging that amount an hour!

[EXC]

Re: Day 1 - OFT Test Case - as it happens

I don't think the differences in the bank's explainations or actual T&C's are that much of an issue but I'm not clear as to why that is but it's maybe the general principal of their charging structure that's important. Certainly Rabinowitz who clearly is co-ordinating the whole defence hasn't drawn any distinction between the charges of particular banks and none of the the eight banks who spoke yesterday seemed to make that an issue.

Tom told me that all the banks would be contributing to Rabinwitz's bill in some way.

[scoobydoo]

Re: Day 1 - OFT Test Case - as it happens

:roll:Hi

but good to put a face to the name.

Glad the judge was not convinced with the answers. It seems to me they are adapting explanations for the charges as they go along - and that one does not add up. As I said on another post I am slightly confused as to what will happen if each bank uses a different explanation for the charges.And if they dont why would they each employ their own expensive representation?

Jan

[EXC]

Re: Day 1 - OFT Test Case - as it happens

agnes

Yes I think the lack of public attending is suprising too. A rough guess would be that average public attendance for the firat 2 day was just 8

scoobydoo

Criminal? Shifty? That's libelous woman! But your point about the 'bundle' of services was one that the judge raised with Rabinowitz and I don't think he was too convinced with his answers.

[Amethyst]

Re: Day 1 - OFT Test Case - as it happens

See DAY 2 - OFT Test Case - as it happens - Legal Beagles for Day 2

[agnes]

Re: Day 1 - OFT Test Case - as it happens

I do support charges don't get me wrong. As long as they are proportionate and are not penalties. Call it £2 as a generous estimate and I wouldn't mind paying that. Just don't like being ripped to line the pocket of the banks. End of story.

This is a point I have always made, that nobody would object to paying a fair and proportionate charge (£2-£3) for going overdrawn, a point which seems to be overlooked, but extortion at £30 is not acceptable.

[scoobydoo]

Re: Day 1 - OFT Test Case - as it happens

It is incorrect to say they are charged only for those services," he said.

"The package of services is always being supplied. "They are at one and the same time charged both for the specific service and the overall bundle of services," he added


But I have a couple of questions- if the charges include the whole bundle of services - that means if you exceed your OD limit you are charged for everything
If you are in credit and have free banking -you are charged for nothing?So surely that is a penalty for those who go OD? So if no body went OD there would be free banking for all! I DONT THINK SO. Or am I reading this incorrectly?


Secondly as the case is against a group of banks - what happens if their arguments about the charges are all different? Hope they are as they are all spending customers money of expensive representation - would be a waste of money if they all came up with the same argument wouldnt it:rolleyes:

By the way tools- thanks for link - definitely shifty.

Jan

[agnes]

Re: Day 1 - OFT Test Case - as it happens

Errrrr isn't it more relevant that we consider that the Banks would not be losing their own money. THEY WOULD BE GIVING IS BACK OUR OWN MONEY - PLUS INTEREST.

I believe the UK economy would receive an unprecidented lift WHEN the OFT win. Consumers with money in their pockets usually spend it on things, thereby indirectly boosting the economy. The Banks will also have to rationalise their charging systems in line with whatever new regulations are forthcoming and an open playing field will develop, Customers will move accounts to Banks offering the fairest charging system.

I have to say; I entirely agree with you BUDGIE you put my thoughts into words a lot better than I could. :thanks:

[TANZARELLI]

Re: Day 1 - OFT Test Case - as it happens

I do support charges don't get me wrong. As long as they are proportionate and are not penalties. Call it £2 as a generous estimate and I wouldn't mind paying that. Just don't like being ripped to line the pocket of the banks. End of story.

[Budgie]

Re: Day 1 - OFT Test Case - as it happens

BBC news article http://news.bbc.co.uk/1/hi/business/7196736.stm

Will be interesting to see EXC's report and get his take on how these arguments were viewed by the Judge.

[TANZARELLI]

Re: Day 1 - OFT Test Case - as it happens

Most definately Budgie, and if points like the laungage matter and T&Cs are batted back by the judge it can only be a good thing.

I beleive a lot of people will be happy with that body blow. And may there be plenty more to come to the banks.

[Budgie]

Re: Day 1 - OFT Test Case - as it happens

Wasn't disagreeing with you at all Nattie.

We can only summise how things are progressing based on the snippets we get from LB reporters at the court. Am sure that Rabinowitz is doing a great job for RBS but it certainly seems that he was put in his place by the Judge over the intelligible language point.

I agree that it will be very interesting to see how the other QC's presentations proceed. It's early days yet.

However, the OFT's response to the Banks defence and counterclaim does a wonderful job of ripping the banks fees for a service argument to shreds so if the combined legal might of the banks cannot score points, even at this early point in proceedings, I feel confident that the stage will be set for the OFT legal team to tidy matters up nicely when they finally get to present their case in a couple of weeks time.

It will be fascinating to see EXC's report on todays proceedings.

Budgie

[Tools]

Re: Day 1 - OFT Test Case - as it happens

Any pictures of our roving reporter EXC to post up - Want to see what the criminal on the run looks like! Jan

Here you go Jan Holiday Snaps