Tuesday, July 31, 2007

UK banks under fire for overdraft penalties..?

The Dutch AD.nl has the news that there will be test case before the UK courts as to overdraft penalties. This relates to Tom Brennan's litigation on that matter. Despite an 80 minute judgment, rejecting his arguments he will take the matter up with the High Court.

AD also referred to the last week's announcement from the Office of Fair Trading that it will push for a High Court declaration to find out whether the unfairness rules contained in the 1999 consumer contracts regulations applies to overdraft charges.