OFT launches overdraft charges test case by Finance News Bulletin

Published: 02/01/08

As a number of charge and rate increases hits the credit card market, it is "more important than ever" that populace shop around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukIt follows "tens of thousands" of complaints made to the body - plus the county judges and the Financial Ombudsman Service - by customers regarding charges they feel to be unfairThe OFT is eager that the High Court will declare that the provisions of the Unfair conditions in Consumer agreement Regulations apply to current accounts and overdraft chargesAccording to the OFT, "a quick strength of mind of this point of principle will assist in securing a clear and arranged resolution of the justice of these charges"

Meanwhile, the Telegraph has reported that Lloyds TSB employees have been issued with a memo telling them to refuse initial approaches for refunds of overdraft chargesThe newspaper supposed that the memo "urges staff to reject unparalleled claims out of hand" unless the claimant is

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