Finance

Consumers have been urged to use the free Financial Ombudsman Service if they have been fobbed off when complaining to their bank or other financial institution.

More than one million bank charges victims have claims to get their money back on hold.

Banks have been given permission by the House of Lords to appeal a ruling that "unlawful" overdraft charges can be subject to fairness rules.

City watchdog, the Financial Services Authority (FSA), is proposing to increase the amount of protection given to savers to at least half a million pounds, in special circumstances only. In some cases, protection will be unlimited.

Mortgage lenders are continuing to cut the cost of fixed rate deals for borrowers. Barclays this week became the latest lender to slash its rates, some of which are down by 0.5% points, following months of Bank of England base rate cuts.

There was a further victory for bank charge reclaimers today, when the Court of Appeal decided that charges CAN be subject to 'unfair contractual terms' laws.