OFT Reply to Bank Defences

[EXC]

http://www.oft.gov.uk/news/press/2007/157-07

[EXC]

Re: OFT Reply to Bank Defences

It nows seems that the OFT have made another complete u-turn on the issue of are penaltie fees for a sevice.

Just a month or so ago Cavendish Elithorne said of the issue ''Banks claim that these charges are a fee for a service and in most cases we would agree with them''.

Now the OFT chief exec seems to think otherwise ''I believes none of the charges applied when customers go overdrawn constitute a service''.

[Paule]

Re: OFT Reply to Bank Defences

Joint Reply & Defence Atached