Anorak News | Illegal Bank Charges: The Test Case

Illegal Bank Charges: The Test Case

by | 4th, June 2007

ON rumbles the bank charges row. However, this time it’s those lovely banks that are planning a court case.

The financial bigwigs are reported to be considering taking a legal test care to finally end the ambiguities over claims for, apparently, ‘illegal’ bank charges.

A number of judges have been pleading with the banks to resolve the whole issue and clarify the law in the High Court, and now their wishes may be granted.

Following last month’s ruling in favour of Lloyds TSB over a customer who was claiming for ‘illegal’ bank charges, the whole situation remains somewhat up in the air.

However, with experts sceptical about the current Office of Fair Trading investigation into bank charges, it could fall to a test case at High Court level to once and for all clarify everything.

Campaigners estimate that the charges are worth over £4.7billion a year to the banks.

Posted: 4th, June 2007 | In: Money Comments (6) | TrackBack | Permalink