Fury as Banks Get Tough in Fees Fight; CUSTOMERS STILL FORCED TO WAIT DESPITE COURT WIN OVER UNAUTHORISED OVERDRAFTS

The Mail on Sunday (London, England), March 1, 2009 | Go to article overview

Fury as Banks Get Tough in Fees Fight; CUSTOMERS STILL FORCED TO WAIT DESPITE COURT WIN OVER UNAUTHORISED OVERDRAFTS


Byline: JO THORNHILL

ANGER is mounting over the refusal by banks to back down and refund excessive overdraft charges to hundreds of thousands of customers who have lodged complaints.

The hardline stance follows a decision last Thursday by the Court of Appeal to dismiss the banks' plea over a High Court verdict on the controversial account charges.

It was a victory for customers who have argued that the fines for accidentally slipping into the red were excessive and unfair. But within moments of the ruling, the banks declared they would continue the battle against their customers by appealing again, this time to the House of Lords. The case could drag on well beyond next year.

In the meantime, all customer cases are on hold due to a waiver on complaints imposed by the Financial Services Authority and banks continue to charge for unauthorised borrowing - earning an estimated [pounds sterling]2.5billion a year.

The banks' stance has angered customers, who as taxpayers now own many banks and have pledged billions of pounds to save them from collapse.

Websites of consumer lobby groups and other campaigners are buzzing as bank customers vent their anger.

Many customers claim that most of the banks, which have recently reported massive losses, including a record [pounds sterling]24 billion by RBS NatWest, are cynically seeking to delay the case - and any payouts - as long as possible.

One customer commenting on Financial Mail's sister website thisismoney.co.uk says: 'The banks have held on to the money from whenever they made this arbitrary and abusive charge and now they get to keep it until 2011.'

Consumer lobby group Which? has called on the banks to surrender and repay customers immediately. 'This case has been going on too long and it is about time the banks tried to regain some dignity and paid customers their dues,' says Doug Taylor, spokesman at Which? 'Another appeal and more delays will only act to further damage the already tattered reputation of the banks.'

Adam Thomsett, director at challengeyour.com, a website that helps consumers reclaim bank charges - taking a 20 per cent cut, plus VAT, of any money won back - says he has tens of thousands of cases on hold. He says: 'Once again our clients' cases are in limbo.

The signs are promising that we will win the battle, but the delays are frustrating.'

CHARLES Holt, 58, a labourer from Preston, Lancashire, has a claim against Lloyds TSB for more than [pounds sterling]8,000 in unauthorised overdraft charges and related interest dating back six years - the legal limit allowed on claims. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Fury as Banks Get Tough in Fees Fight; CUSTOMERS STILL FORCED TO WAIT DESPITE COURT WIN OVER UNAUTHORISED OVERDRAFTS
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.