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It has been revealed that the Chancellor Alistair Darling held talks with some of the UK largest banks yesterday in a bid to try and avert a banking crisis in the UK. The meeting was attended by...
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Monday 7th July 2008
Hundreds of thousands of bank customers will come closer to finding out whether or not they will be paid back their penalty fees this week.
The High Court case looking into the charges, which are levied by banks for offences such as exceeding overdraft limits, is to hold a new three day hearing, starting today.
Presiding judge, Mr Justice Andrew Smith, will then decide whether or not charges dating back years can be claimed for.
During the case, the judge has already decided that the Office of Fair Trading (OFT) should be allowed to decide if the charges are unfair or not - a verdict which is being appealed against by banks.
The High Court has also yet to decide its own decision as to the fairness or otherwise of the penalty fees.
In turn, the OFT is also currently investigating the charges.
It is likely that bank customers who have launched actions against their banks will have to wait for many months before an overall verdict is delivered.
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