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Judge to give verdict in bank charges case

The High Court will today decide whether banks can continue imposing unauthorised overdraft charges. Mr Justice Smith will rule on a test case brought by the Office of Fair Trading (OFT) against seven UK banks and one building society. Should he find in favour of the OFT it would clear the way for it to launch a second investigation to determine whether the charges are unfair according to the terms of the 1999 Unfair Terms in Consumer Contracts Regulations. However, a ruling in favour of the banks would effectively allow them to continue to charge the fees when customers go overdrawn of a cheque bounces. Which? personal finance campaigns manager Doug Taylor said: "Today is a massive day for millions of consumers as well as the UK’s high street banks."If they try to drag the process out any longer they will only be doing more damage to their reputations."An unfavourable decision is expected to be appealed by both parties.

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