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this bank error is not in your favour

Published: 25/11/2009

The Times (Blog)

So it is D-day for the banks, from whom an enormous weight could be lifted this morning, if the Supreme Court rules that the Office of Fair Trading has been exceeding its powers by investigating their unauthorised borrowing charges.
 
Moneynet.co.uk points out that with 54 million active current accounts in the UK charging a monthly fee of £2.50 on each one would enable the banks to recoup almost all of their lost of £1.7bn of unauthorised borrowing fee revenue.

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