OFT v Banks - **Don't panic!!!**

[Castlebest]

Think we are both on the same side Gez, the sheep will do as its told by the wolves

[un1boy]

It should not be forgotten that the very reason we are in this position is through the greed of the banks. Initially, they were classed as an 'Institution' and an organisation who could be trusted.

 

'With great power comes great responsibility'.

 

They have abused their position and as a result have suffered a backlash from their customers. Have the Government or the Ombudsmen stood up to the mark? No. It is only the OFT who have realised that they have been doing too little, and decided to do something about it.

 

The FSA are deep rooted, and are heavily involved with their funders, the banks. They will attempt to show they are playing the big Ombudsman, but are a wolf in sheep's clothing.

 

Egg today announced the closure of 160,000 accounts after they were bought out by Citi. These accounts were those they didn't make money from (they didn't default or have large ongoing balances).

 

The banks are a business and need to make money, they just got greedy.

 

Tide

 

Tide, don't forget though that the OFT only took action once they were threatened by consumers who said they would take legal action against the OFT if they didn't act.

 

I was told by the court that the claims were stayed on the court's own initiative and it was a direction from the high court - no involvement from the banks.

 

One judge is making me enter an application to request the removal of a astay he automatically placed on 2 credit card claims, saying they are part of the OFT test case - I have pointed out that credit card accounts aren't but he us still making me PAY a fee to enter an application which is completely pointless.