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THE JUDGEMENT
The High Court have ruled that the Unfair Terms in Consumer Contracts Regulations 1999 are applicable to overdraft charges.
The banks have previously denied this, so this is a huge step forward towards fairness in bank fees.
The High Court has also ruled that the charges are not a Penalty for a Breach of Contract.
A further hearing to discuss appeals and the way forward will be held on May 22nd - the waiver will remain in place until at least this date.
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PERSONAL BANK ACCOUNT CLAIMS
The High Court have ruled that the Unfair Terms in Consumer Contracts Regulations 1999 are applicable to overdraft charges.
The banks have previously denied this, so this is a huge step forward towards fairness in bank fees.
The High Court has also ruled that the charges are not a Penalty for a Breach of Contract.
A further hearing to discuss appeals and the way forward will be held on May 22nd - the waiver will remain in place until at least this date.
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PERSONAL BANK ACCOUNT CLAIMS
Keep putting your complaints in to the banks and your claims in to the courts.
There is no panic to send in your claim, but as always the earlier the better.
Don't hold off on sending of your Subject Access Request for information or your Preliminary request for a refund.
My claim is currently under a Stay, what will happen now?There is no panic to send in your claim, but as always the earlier the better.
Don't hold off on sending of your Subject Access Request for information or your Preliminary request for a refund.
Nothing, the stays will remain in place until at least the 22nd May, which is when the Case Management Hearing will take place between the OFT and the Banks.
You may receive an offer from the bank for goodwill payments. These are very unlikely to be full offers and we would advise you to reject such 'gestures of goodwill'.
There is no need to amend your Particulars of Claim or write to your bank/the court.
My complaint is on hold by the Bank under the FSA Waiver, what will happen now?
Your complaint will continue to be held in the banks complaints system, until such time as the waiver is lifted. We do continue to advise people to put their claims in at court following the Preliminary and Letter before Action letters. We will be reviewing the Particulars of Claim in the next few days.
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BUSINESS ACCOUNT CLAIMS
Keep putting your complaints in to the banks. We currently advise against entering new Claims into the courts system until at least the 22nd May.
BUSINESS ACCOUNT CLAIMS
Keep putting your complaints in to the banks. We currently advise against entering new Claims into the courts system until at least the 22nd May.
Claims for Business Accounts are unable to rely on Consumer Regulations and have relied on the Penalty Charges aspect. We expect the decision to be appealed and would not advise any one to withdraw claims already in the system.
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CREDIT CARD CLAIMS
Not affected
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MORTGAGE/UTILITIES & OTHERS
Not affected
CREDIT CARD CLAIMS
Not affected
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MORTGAGE/UTILITIES & OTHERS
Not affected
