OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance ..

[natweststaffmember]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

Never sure where to discuss this morning's announcement but 1.5 states this:

"1.5 The OFT has considered a number of potential avenues for continuing an
investigation under the UTCCRs. Any such investigation would be
narrow in scope, would appear to have a low probability of success and,
in any event, would appear to make only a limited contribution to
achieving the OFT's objectives. When considered against the risks and
resources involved, the OFT does not think it appropriate to continue an
investigation."

two points on it, is (1) UTCCR's would be limited in scope because of 6.2(b) and that the OFT believe it would only have a limited contribution to their objectives(that may have a reference to historic charges that will have no bearing on their objectives TODAY).
Still reading OFT 1154

[borgbaiter]

Re: Our thoughts on the bank charges situation....

hi

with regards to revised poc's it has to be kept simple or the small claims will move it to fast or multi track on the grounds of complication. then banks cost will definately be a problem, as well as have a precident setting aspect.



borgbaiter

[natweststaffmember]

Re: Our thoughts on the bank charges situation....

http://www.oft.gov.uk/shared_oft/per...counts/oft1154
The above is a very interesting read with regards to the OFT test case and their opinion.

[ed.]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

And the fact they wanted a favourable precedent and other cases now give them that opportunity, it's implied further down the document mate. I think this is why it ended up being argued as it did - they tried to make it catch all which is why it was so removed from what 'we' had actually really been arguing.

ie they went ultimately arguing a 'service' angle, as opposed to knocking the service element completely on its head.

[TANZARELLI]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

no surprises there then

[Amethyst]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

Consumer Focus’ response to OFT decision to drop bank charges case

Commenting on today’s decision by the Office of Fair Trading to drop the bank charges case following last month’s defeat in the Supreme Court, Philip Cullum, Acting Chief Executive of Consumer Focus, said:

‘Consumer trust in banks is at an all-time low. This decision will add to the public frustration towards the banking sector. Banks must realise that consumer confidence in the sector is incredibly weak and that real changes are needed.
‘Consumers need concrete assurance that strong levels of protection will be introduced and that there is the scope to challenge the industry on issues such as overdraft charges.’

[thincat]

Re: OFT drop case - What are the options for consumers with charges claims ?

Hi Everybody,
Can't say I'm thrilled about the OFT's statement this morning. I feel that the Banks will make hay and will use this to put many less determined people off taking on the Banks on
a number of other issues. Obviously it is NOT the end of the road but the Media might
well see it as such(VERY little on the news today NOTHING on R4 "You and Yours as
far as I could tell). Yet again I'd like to wish everyone on Legal Beagles a cool crimble
even though it's going to be a rather thoughtful one. I do take my hat off to you ALL
and I think matters have gone too far to give up now. I've read the other posts and
it looks like (correct me if I'm wrong) there may be a bit of wriggle room available. We
MUST continue.

Merry thoughtful Xmas and a Determined New Year to all,

Thincat.:_thedoctor__by_GuyF

[orc]

Re: OFT drop case - What are the options for consumers with charges claims ?

We are as CB and Nattie said far more clued up and skilled than we were 2/3 years ago.

Carefully worded POC's with the right claimant, could see the start of what we had before, ie claims not being defended and out of court settlements.

I am not saying that will defo happen, but there is a real possibility.

Time is needed for reflection.

BTW, If I don't get the chance, please have a very happy and peaceful Christmas, with my best wishes to you all.

[natweststaffmember]

Re: OFT drop case - What are the options for consumers with charges claims ?

I think we all need time to read the information from the OFT. I think their reasoning is very sound and I think their judgement is sound. The question now is that it will up to you--those claiming, to show the way for the OFT to litigate if need be. Please do not think that anyone is not working hard even today or tomorrow on things related to this case. It continues to happen so please do not read the interpretation of the opinion but read the opinion itself without any media spin machine telling what it means. I did this afternoon and it was glorious.

[BOBSCOUSE]

Re: OFT drop case - What are the options for consumers with charges claims ?

Hi all,

Sorry, I don't post much as in the old days on RUC, depression got the better of me and I haven't had the heart to get involved with lengthy debate. Have been lurking though and keeping an eye (not so much with the detail but the general gist) on the arguments and it never ceases to amaze me just how much work, energy and passion is expended by those striving to pursue some modicum of justice for the common folk out there - a BIG thank you and group hug followed by plenty of seasonal cheer for those fighting on our behalf. Wish I could do something to help.

Must say that the recent decisions have left me (as many others) bewildered, capped off by todays decision by the impotent OFT. Cannot believe how corrupt the "system" is, that the voting public can be trodden on so mercilessly by those in power, those who run the cartels and the hoi-polloi that subscribe to those cartels with their shareholdings (probably a hint of a libellous statement there but I'm having a militant attitude day today). What chance do we have in a country which is going to the dogs, one which is becoming less of a democracy and more of an authoritarian state which serves to pander to the needs of the gentry, money-men and politicians? Is there a true Socialist party out there which is deserving of the public vote these days, I think that we may as well leave only the middle and upper classes to vote as whoever is in power seems blind to the problems of the man/woman on the street.

Given that we are up against the establishment in this country, can I ask how much potential is there for taking the case as a class action to the European Courts? Seems to me that the EC doesn't particularly favour the UK government and might relish the opportunity to stand up for members of the European populace (us!).

Be nice to see a chink of light somewhere, although looking at my claim which has been sat with the bank for two years, interest has taken the amount from £11K to £15K (RUC spready of course Budgie :wink: :santa_cheesy: ) - that in itself gives cause for optimism.

Sorry about the length of the post, its always been my nature to do War and Peace - probably a good thing for me to go back into hibernation now so that the Beagles server doesn't overload.........

Happy Christmas and wishes for a happy, healthy and very prosperous New Year to everyone.

Bob

:w_nikolaus_187: I am the eternal pessimist these days, to me this fecker seems to putting the presents back into his sack!!!!!!!!!!!

[Budgie]

Re: OFT drop case - What are the options for consumers with charges claims ?

Hey, nice to see you Bob.

For those of you who don't know him Bob is a demon letter writer.
I hope now that you are back in the fold we can draw on your talent in the future Bob! One thing is for certain, there is going to be one hell of a lot of letter writing to do in the coming weeks and months.

[Budgie]

Re: OFT drop case - What are the options for consumers with charges claims ?

Personally speaking, I am far from disappointed with today's news.

It just puts us all back in the reclaiming position that we were in nearly 2 1/2 years ago. The only thing legally that has happened during that time is a Supreme Court judgment that precludes the assessment of relevant charges for fairness from the price angle and the small matter of a High Court ruling that the relevant terms are not capable of being penal. A lot of you know my views on the latter situation in that I feel that the issue is wide open for resurrection as part of the misrepresentation, common law mistake argument. We have learned an awful lot in the last two years and are now much more educated and experienced and capable of pursuing this matter through to a successful conclusion. And we will !!

In the last two years Legal Beagles has grown beyond all recognition, we are now one of the most respected Consumer websites in the UK and have forged strong links with the OFT who confirmed today that they wish to continue to develop our relationship and that they value the input we are able to provide. That input comes directly from Legal Beagles users and we hope that will continue to be the case. No other Consumer Group has that type of relationship with the OFT.

Just because the OFT have decided not to continue doesn't mean that the relevant terms are fair !! Far from it, I wholly echo Nattie's words a couple of posts previously. A full read of the OFT's decision document paints an exceptionally bright picture for the future. Ignore the rubbish in the media, 99% of the media commentators have no idea what the whole bank charges debate is really about.

It is going to be a long uphill battle, but hey, it was always going to be that anyway. At least now, for the moment, we are back in charge of our own destiny and the Banks, whilst perhaps crowing a little today, will be quaking in their boots come the New Year. They know that Consumers, will not just give up.

I would like to take this opportunity to publicly thank Amethyst for all of her hard work, not just today but especially over the last few months. It is not easy for someone with a young family to devote so much of their free time to help and advise others. Amethyst does this day in and day out and with no ulterior motive. She is selfless in this task and exceptionally good at what she does. Many others provide help and assistance behind the scenes here on Legal Beagles and those people also deserve a vote of thanks, but Amethyst is the heart of the site and without her there would be no Legal Beagles. I hope you will all join with me in thanking her for her devotion.

Just remains for me to Wish everyone a Merry Christmas and a Happy, Prosperous 2010. resents3:

Remember that you might be expecting a little bit of stuffing on Xmas day, but the Banks will be receiving a whole lot more through 2010.

[natweststaffmember]

Re: OFT drop case - What are the options for consumers with charges claims ?

I would urge anyone with a spare 30 minutes or so to have a read of the OFT's opinion, not the media hype(the more I say this the more I am sounding like the late Michael Jackson). Take time to read the fact that the OFT are dealing with issues TODAY and the future not the Historical charges and I think we need to study more the NatWest 2001-2003 terms(if only I had my own copy) for the potential penal argument. The next few days and festive period is a time of reflection and rather than criticise the OFT, I think they have opened up evidence for all of us to digest. Let's take the time to do so but the work continues regardless of anything.

[charitynjw]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

The SC may have stopped the OFT from going to Europe, but what about ongoing cases?
After all, UTCCR has it's roots there..............................

[frisp]

Re: OFT DROP bank charges case - leaks by sky news and sarah mccarthy-fry in advance

Hear hear Budgie, I think we all owe Amethyst a huge thanks for her dedication and selflessness with regard to the management and advice given on this website.

Thanks too to all the others that make the running of the site so seamless.

Have a cool yule and a suitably tired and confused hugwhatmay