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UK Banks win right of appeal regarding charges

The ongoing debacle which has seen UK banks taken to court by the Office of Fair Trading, with regards to overcharges, appears set to go on for some time yet after the banks were granted the right of appeal to the House of Lords. They are looking to appeal against a recent decision which effectively confirmed that the charges could be subject to "unfair contractual terms" laws. This had been seen as a significant move in the direction of customers, many of whom have already been paid out by the banks, although the latest development in the case is set to delay a ruling for some months.

There have been ongoing suggestions that the UK banking sector is basically trying to drag out the situation as long as possible in the hope that customers will lose interest and eventually the courts will rule in their favour. There is no doubt that the financial and legal backing of the UK banking sector is far greater than anything else available to customers in the UK. There have been a number of significant positive moves over the last few months but at this moment in time it seems as though it is one step forward and two steps back.

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