H.O.L Test case appeal. Judgement Declared. ***See Announcements***

[dave]

Exactly my point.

[rdm2006]

A professional organisation has a professional workforce.

 

If CAG set up a Credit Union...even by proxy

Methinks peeps would expect it to be administered by a fully accountable FULL TIME employed professional person/people...

 

 

...

 

Killjoy LOL

[rdm2006]

right back to reality!

 

Should we post a "vote with your feet" thread in each banks forum???

Edited May 22, 2008 by rdm2006

[MilkTrayMan]

Economies of scale play a part also.

A FULL TIME person's wages would have to be paid by the Credit Union Membership.

The question is...

Could that be done + STILL make it a financially attractive alternative to peeps Mainstream Banking, to encourage Membership??...

...

[JonCris]

Crikey I'm not suggesting CAG set one up. That could take at least 2-3 years

 

I'm suggesting that rather than recommend banks we tell members & the wider world that these 'new' CU's exist

 

Few people are yet aware that they can have much the same services from these CU's as they can from a bank

 

Also they aint' going to get ripped off as they do with banks

[dave]

right back to reality!

 

Should we post a "vote with your feet" thread in each banks forum???

 

Sounds like a plan, but be aware that this is just my opinion - CAG probably won't endorse it.

[MilkTrayMan]

Crikey I'm not suggesting CAG set one up...

Why NOT??...I have no objection to U being given the credit for having done so.

 

I personally think that it's a VERY good progressive idea.

It offers a 'One Stop' Consumer Service.

I think that it should at least be looked at for it's feasability.

 

Many of today's socially minded organisations/societies have started this way.

 

 

 

 

That could take at least 2-3 years...

HOW do U know that would be the timescale??...:o

I'm sure that there MUST be an 'off-the-shelf' template that could be obtained/followed?...:-?

 

 

...

[locutus]

I think CAG should seriously look into this. Why do we put up with banks? because we have to! If we had a nationwide CU that was run ethicly and fairly, I know most people that visit this site will embrace it.

 

CAG CU

[Ladidi]

I found this useful peice of information on penalty charges made by BW...

 

 

In a nutshell:

 

The banks will formally make their appeal on the UTCCR fairness issue tomorrow. The OFT may appeal on PIL but won't appeal on the penalty issue.

 

The Judge will now look at historical T&Cs and make a declaration on whether they are penalties or not during the next CMC on 7-8 July. The judge will make his rulings on a bank by bank, term by term basis. Because Nationwide T&Cs have not changed the judge will not consider them.

 

Also, in the same hearing he will decide whether his ruling that current T&Cs can be assessed for fairness also applies to historicals.

 

He said that any reccomendation to stayed litigation in the County Courts on the UTCCR fairness issue would only be made after the conclusion of the banks appeal.

 

Having said that the judge did seem very keen to keep things moving for the sake of a speedy outcome to the stayed cases. He was critcal of the OFT QC for having no idea when they will make their decision on fairness and urged them to hurry up. The FSA representitive also said the same. The OFT QC blamed the banks for the delay as they kept changing theit T&Cs and that of the eight banks they requested information from to be submitted by now, only 2 had.

 

Tomorrow the banks and possibly the OFT will submit their appeals. It is expected that the appeals will be heard in October/November.

 

Obviously this is not good news for people wanting their stays lifted soon. The only glimmer of hope is that that if he rules that the historical T&Cs are penalties, it could mean the claimant could seek an ''injunctive remedy' which means that the claimant could apply for an injuntion to prevent further charges being applied pending appeals.

[Ladidi]

This was also being reported on the BBC news website..

 

BBC NEWS | Business | Deadline set on bank charges case

[barracad]

HOW do U know that would be the timescale??...:o

I'm sure that there MUST be an 'off-the-shelf' template that could be obtained/followed?...:-?

 

 

...

 

ABCUL

[rdm2006]

Sounds like a plan, but be aware that this is just my opinion - CAG probably won't endorse it.

 

Should we ask BF ? It would be nice to have CAG backing (and this would make a very good news item should CAG pass this onto the press) now that would raise a few eyebrows in the banking industry no doubt

[tifo]

extortionate petrol is definately hitting people in the pocket

that could be controlled at the drop of a hat it is speculators who are buying vast quantities uknown faces it is a possibility opec and goverments might halt the speculation but they know india and china have a large hand in all this as well and everyone is afraid to rock their boats

I see no problem in developing countries such as China and India demanding resources if they are able to pay for them. It's a buyer/seller market.

 

The extortionate prices are coming from the oil companies and investors themselves in a bid to make huge profits.

 

Much of the western world has done the same over the past centuries when using world resources (oil, gas, minerals, coal etc) to become developed nations and to now complain about others doing it is hypocrytical. Did they ever think about the ozone layer and global warming when they were chucking out clouds of smoke from huge chimneys?

 

History shows that the balance of power never stays in one location and this is the nature of the world. Countries grow and fall and others grow and fall and it continues.

 

My point is that every country should be able to develop the best they can and no-one should complain about it. After all, development brings many positive benefits for the people of the country and for the world economy, like being able to speak English in a Bangalore or Manila call centre, thus saving your western employers millions in costs (though most can barely put a good sentence together but that's not their fault).

Edited May 23, 2008 by tifo

[JonCris]

Why NOT??...I have no objection to U being given the credit for having done so.

 

I personally think that it's a VERY good progressive idea.

It offers a 'One Stop' Consumer Service.

I think that it should at least be looked at for it's feasability.

 

Many of today's socially minded organisations/societies have started this way.

 

 

 

 

HOW do U know that would be the timescale??...:o

I'm sure that there MUST be an 'off-the-shelf' template that could be obtained/followed?...:-?

 

 

...

 

This is not my 1st time of thinking along these lines.

 

I know the time-line because I have already spoken some months ago to a senior CU manager who sets them up & he told me they have to jump through many regulatory hoops before being authorised to take deposits. I was advised that it would take at least 2 years

 

As for CAG being one I have my doubts as the only national one I know of is that run by the police federation. There has to be a common bond between members & this usually means they either have to live in the approx area or have to be linked by their job so I doubt being members of a website qualifies;)

 

Also it will be much more convenient if members used their local CU where they would establish local contacts & be able to seek advice on a one to one basis

Edited May 23, 2008 by JonCris

[tomterm8]

Opening a credit union is incredibly complicated... i looked into it, and then looked out of it pretty quickly.

[JonCris]

Why are members latching onto the idea of setting up a CU:confused: that's not what I'm suggesting at all

 

I'm simply proposing that instead of directing people to the least objectionable of the banks why don't we suggest they join their local CU

[tifo]

Opening a credit union is incredibly complicated... i looked into it, and then looked out of it pretty quickly.

 

I also looked into it and it is hard, takes at least a year i was told ... i even looked at opening a private bank and that is even harder, with the funds as well, and i was told it takes 3 years (by the FSA).

[JonCris]

A CU will take at the very least 2 if not 3 years to setup. Read the links

[fergal71]

set up Co-op account should have welcome pack in 10 days.... put this on front page of CAG and ask Martin Lewis to promote on his many TV appearances... Call it talk with your feet...

 

publicity means numbers

and it is numbers that force change

 

MP's , banks, CRA's , any company will only listen and make changes if their are massive numbers requesting change... This site has a great oppurtunuty to make change... somebody needs to Co-ordinate and use the front page to publicise. If CAG asked for donations to set up Credit unions, create pulicity or take FSA to court to lift waiver etc. I am certain many who could afford to would send donations. why not create a cause which ever is voted on , simple to set up blog vote on here I am sure, ie court action to lift waiver, petition to MP's , Fuel protest, which ever is felt is the most important initially etc etc , let people vote and then ask for donations to take it forward.....

[car2403]

set up Co-op account should have welcome pack in 10 days.... put this on front page of CAG and ask Martin Lewis to promote on his many TV appearances... Call it talk with your feet...

 

publicity means numbers

and it is numbers that force change

 

MP's , banks, CRA's , any company will only listen and make changes if their are massive numbers requesting change... This site has a great oppurtunuty to make change... somebody needs to Co-ordinate and use the front page to publicise. If CAG asked for donations to set up Credit unions, create pulicity or take FSA to court to lift waiver etc. I am certain many who could afford to would send donations. why not create a cause which ever is voted on , simple to set up blog vote on here I am sure, ie court action to lift waiver, petition to MP's , Fuel protest, which ever is felt is the most important initially etc etc , let people vote and then ask for donations to take it forward.....

 

That wouldn't work, IMHO.

 

Anyway, the ethos of this site is to help people to help themselves - we aren't here to do it for them.

 

If numbers talking would get results, surely the vast number of cases that have already been heard in the County Court - not to mention the current cases on hold - would have already achieved them, would they not?

[hatebank1976]

hi everyone just joined the forum i work for black horse finance im also claiming my charges from halifax i so glad that people are taking on the banks and companies.

[JOSH_IOU]

Welcome hat.

 

I no the feeling I worked for Northern Rock.

 

At least when you tell evryone they say oh I never heard of those before.

Edited May 23, 2008 by JOSH_IOU

[TheyrCriminals]

Guys,

 

If anyone knows can they please report what happened in court today, I have heard nothing?!

 

TheyrCriminals

[jansus]

I think you will have to link to BBC reports

 

no more posting from those who attended.

[jansus]

The Co-Op seem a fair bunch. I haven't heard too many complaints regarding them, and they've been fair to my parents for a long number of years.

 

If you have you wages paid into any of the offending banks, cease it immediately and have your wages paid elsewhere. If everybody does this, next time payday comes, the banks will notice a large drop in revenue.

 

If they challenge you on overdrafts, hold your ground and put the account into dispute. You only need to claim for 1 pound of unfair charges (which'll cost you 25 quid with MCOL) and they can't request any of the overdraft back until the outcome of the case is determined.

 

Therefore your overdraft will be frozen, whilst you skip of to another bank with your wages.

 

Maybe we should publish a dummies guide to p***ing of the big 8???

 

 

 

 

Are you seriously saying that if you owe £3000 say for example on an overdraft and you have one charge of £35.00 ( not sure there are any charges of £1.00 if there were we would not be claiming!) That you are advocating not repaying the overdraft and expecting the bank to freeze all further charges and interest just because of £35.00? You are saying they will not chase you for the monies or refer the case to a DCA?

 

Are you 100% sure of that before you recommend that on here - because once you get a bad credit history it is very hard to remove

Edited May 23, 2008 by jansus