Consumers who try to wriggle out of their credit card debts based on a technicality have been dealt a blow after one loophole was closed by the High Court, it is claimed.
It’s depressing, disappointing, but not a complete disaster. The Office of Fair Trading's (OFT) decision to drop the bank charges case is a blow, yet there are still other legal avenues.
MPs are urging watchdogs to investigate the fairness of the credit application market, amid concerns consumers are being penalised for searching for the best deals.
The Office of Fair Trading (OFT) is expected to announce next Tuesday whether it will continue the fight to help bank charges victims reclaim their cash, following its Supreme Court defeat last month.
Lib Dems Shadow Chancellor Vince Cable has tabled an early day motion in Parliament this week calling on banks and building societies to refund 'unfair' overdraft charges.
4 December 2009
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