Bank Charges Campaign Continues

[the_shadow]

When Bankers were good - BBC 2 tonight 9pm

 

Cue lots of shots of middle aged men in black and white film

[ims21]

And of course Captain Mainwaring ( although I'm not sure he's a great example of a banker! )

 

ims

[caro]

Courtesy of Stella Creasy MP.

 

It is now very expensive to be a member of the squeezed middle in this country. Vince Cable once accused the high street banks of “ripping off” their customers. But given the chance to do something, the government has instead today reneged on previous coalition commitments to act on “unfair” bank charges and cap the excessive costs of credit cards and store cards.

 

In 2006 an OFT study showed a third of all bank profits from current accounts came from “unauthorised overdraft charges”. The government claim that the situation has improved since then as industry pressure has seen charges reduced – from £35 to an average of £14. This is small consolation to the millions of people now regularly going into the red. The numbers who say they are likely to use an unauthorised overdraft has nearly doubled this year, from 900,000 to 1.6 million. Even with downward pressure on charges, research showed that customers are being charged an average of 167% a year on unauthorised overdrafts, once fees and penalties are taken into account. Little wonder the legal loan sharks claim justification for their activities, by arguing that they are cheaper than relying on your bank.

 

Full article here. http://labour-uncut.co.uk/2011/11/21/loan-sharks-the-governments-gonna-need-a-bigger-boat/

[determindator]

Oh happy day:-)

 

http://www.which.co.uk/campaigns/personal-finance/card-surcharges/pledge-your-support/

 

 

Good to see this was sorted, please don't stop there though!

 

http://www.thesun.co.uk/sol/homepage/news/politics/4017096/Ministers-to-ban-excessive-card-charge-fees.html

 

Keep the faith:-D

Edited December 24, 2011 by determindator

[caro]

Nice early Christmas present. A shame that the Vickers report didn't take a firm stance on bank charges though.

[caro]

Banks are charging more than PDL companies for unauthorised overdrafts - up to 800,000%!!

 

http://www.bbc.co.uk/news/business-16002022

[citizenB]

Good to see this was sorted, please don't stop there though!

 

http://www.thesun.co.uk/sol/homepage/news/politics/4017096/Ministers-to-ban-excessive-card-charge-fees.html

 

Keep the faith:-D

 

http://www.dailymail.co.uk/travel/article-2078000/RyanAir-sticks-fingers-order-slash-credit-debit-card-fees.html

 

Ryan air have basically said "get stuffed" !

[caro]

I see that BankFodder has some ideas on fighting the banks using BCOBs based on fairness.

 

It'll be interesting to see how this goes. In my view charges are clearly unfair, but unfortunately it's not me who has to be convinced. It'll be interesting to see the theory tested.

 

Let's hope it's a good new year for everyone who's been screwed by the banks!!

 

http://www.consumeractiongroup.co.uk/forum/content.php?825-BCOB-the-hidden-rules

 

http://www.consumeractiongroup.co.uk/forum/content.php?826-How-Can-BCOB-Protect-You-From-Your-Bank-s-Unfair-Treatmen

 

http://www.consumeractiongroup.co.uk/forum/content.php?824-Does-your-bank-play-fair

 

http://www.consumeractiongroup.co.uk/forum/content.php?827-Examples-of-unfair-treament

[determindator]

Even more good news Caro:-D Must keep it all flowing into the New Year 2012, that special year where the bad world could end and a good world begin. Talking about fairness, I recently spoke to Santander who told me they offer various mortgage rates to customers depending on their risk. Basically the higher the risk. the higher the interest rate! Greece was mentioned and how lending rates to them would be high. I said 'well then even less chance of the lender getting their money back then!' Had a philosophical conversation and said to them 'If you treated everyone the same which is fair and gave the best possible rates, the sub-prime lending would never have existed and not cause the implosion it did (BTW I hear FM + FM are being prosecuted for their role in this demise) If you give the best rates possible to everyone then it is more clear who cannot afford repayments, not give extortionate rates and say you can't afford it. How ridiculous.

 

Same with Bank Charges, making it worse for those who can least afford it. When will the Banks be made to charge the amount it actually costs to return or pay an unpaid item for lack of funds?

 

I'm so glad Bank Fodder is moving mountains:-D

[caro]

http://www.consumeractiongroup.co.uk/forum/content.php?829-Charges-successfuly-reclaimed-from-RBS-last-year

[caro]

:-DMike Dailly is still very much on the banks case. Not only has he got Santander to fold and pay back charges

 

Unfair bank charges update from GLC

 

 

GLC has settled a claim in full for the refund for overdraft charges with Santander UK plc. The claim was settled extra-judicially after proceedings had been raised utlising new legal and factual arguments.

 

Some of these arguments (but not all) are scheduled to be tested in the cases of Reid v. Clydesdale Bank plc, and Sharp v. Bank of Scotland plc.

 

A debate will take at Glasgow Sheriff Court on 2 April 2012 in the case of Reid v. Clydesdale Bank plc, with GLC's Mike Dailly appearing for the pursuer, and Clydesdale's in-house legal team and counsel appearing for the defender

 

 

 

he's also been busy with the BBA. http://www.fs-cp.org.uk/publications/pdf/md-bba-complaints-speech20120315.pdf

 

Keep up the good work Mike!!

[ims21]

 

Keep up the good work Mike!!

 

 

Yes indeed

[caro]

Maybe we should be looking further afield for hope ...

 

http://www.sven-giegold.de/2012/high-level-banking-conference/

[caro]

Looks like the tide is finally turning!! :cheer2:

 

http://govanlc.blogspot.co.uk/2012/06/glc-unfair-bank-charges-update-phase-2.html

Edited June 17, 2012 by the_shadow

[jdes26]

Yes. I think so to..........

Bring on phase 2!!!!!

Multiple litigations sounds real good

[caro]

Doesn't it just!!

 

It's been a long time coming but I always knew it was inevitable. There is no way on this earth that bank charges can be right!!!!

[jdes26]

Patience is a virtue and waiting won't hurt you in the ling run IT WILL SERVE YOU

I can wait!!!!!

[username44]

Is there any reason I can't view that link? http://www.consumeractiongroup.co.uk...-Viewing)-nbsp

 

username44, you do not have permission to access this page. This could be due to one of several reasons:

 

1. Your user account may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
   
2. If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation. You may not have sufficient posts to permit you to carry out your intended action
   

Would like to see whats happening?

[the_shadow]

Is there any reason I can't view that link? http://www.consumeractiongroup.co.uk...-Viewing)-nbsp

 

username44, you do not have permission to access this page. This could be due to one of several reasons:

 

1. Your user account may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
   
2. If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation. You may not have sufficient posts to permit you to carry out your intended action
   

Would like to see whats happening?

 

Yep the link goes to a restricted part of the forum.. try this one instead..

 

http://govanlc.blogspot.co.uk/2012/06/glc-unfair-bank-charges-update-phase-2.html

 

S.

[the_shadow]

Link now updated for all to see

[username44]

Thanks

 

What do you have to do to read the restricted part of the forum? I'm sure there's more default reading there that would help me. Whats the deal?

[caro]

Apologies username. It's just admin and back room stuff to do with running the forum. I must have accidentally posted a wrong link.

 

Thanks for sorting it shadow.

[username44]

ohh sort of sad that there is no 'secret place' love a mystery. Anyway it wouldn't be a very good secret if everybody knew it existed!

 

Good stuff about bank charges for all those that need to claim. Off default hunting again.

[caro]

Be interesting to attend this but I think the cost may be a tad prohibitive for us non-bankers. http://www.bba.org.uk/events-and-training/event/eu-regulatory-update-seminar-retail-banking/programme

 

I know this thread's been quiet of late but times they are a-changing in bank regulation. http://www.guardian.co.uk/business/2012/aug/13/fsa-financial-enforecement-tracey-mcdermott?newsfeed=true

[sweetjane]

It would be good if someone could go to the BBA event on behalf of all of CAG, like you Caro. I'd contribute to a fund to cover your costs. At least Mike Dailly will be there and he represents the consumer voice. It's good to see things tightening up even if it's coming from Europe. I am concerned the Finance Bill going through Parliament will be watered down by the effect of banker lobbyists and party funders. Let's hope there will be more people with Tracey McDermott's skills at the FCA. SJ