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OFT bank charges investigation derailed by Supreme Court ruling

This decision is not particularly surprising. Given that the banks involved are propped up by taxpayers’ money, a judgement in favour of siphoning some of this money back to account holders in the midst of this economic crisis was always unlikely. Had this claim been brought 3 years ago then the cause may have gained favour with the Lords. Like it or not, any sort of claims against banks involving potentially large payouts are going to fall flat until they start making shed loads of cash again and this country’s economy is comfortably out of recession.

25-Nov-2009

1:52 pm