Bank Charges Updates
Bank charges update – March 2010
Good News! There may be light at the end of the tunnel!
As you will be aware, in November 2009 the Supreme Court ruled that the banks could not be challenged under fairness rules for applying excessive bank charges. As a result, millions of people were told by their banks that they could not reclaim their money.
Although the banks were right by saying that one avenue for reclaiming had been closed, they were not right in saying that there was no chance of customers ever reclaiming their money. Brunel Franklin are now working very hard and are considering challenging the banks under a different area of Law.
Although this may be a slow process we remain hopeful that there will be a successful outcome for our customers. We appreciate your ongoing patience and when we have more news we will contact you with a further update.
Bank Charges Update – January 2010
Further to previous Bank charges updates, the Office of Fair Trading announced in December 2009 that they would not appeal the Supreme Court Judgement in the long running ‘Bank Charges Test Cases” to establish the legality of excessive overdraft charges, this decision is a further blow to all consumers.
Most Banks are currently writing to the customers who had filed complaints and advising them that no further charges will be refunded. However, Brunel Franklin has not given up hope; we will continue to search for other avenues to pursue the complaints for our clients. We strongly believe consumers have been charged unfairly for years and this money should be back where it belongs ‘in their pockets’.
This is a highly complex area of law and legal advice is currently being sought. We cannot make any guarantees, but we will keep you informed of our progress.
Bank Charges Update – November 2009
On the 25th November 2009, the Office of Fair Trading (OFT) lost its case against a number of banks over the fairness of bank charges, when the Supreme Court ruled that overdraft charges do not come under “unfair contract” rules.
The waiver (stay) that was granted during the Test Case, by the Financial Services Authority (FSA) has, we are pleased to say, now been lifted and banks will be obliged to respond to those complaints that were put on hold. We believe it is probable the Banks will reject these cases regardless of their merit, but we shall not be deterred from our objectives.
Understandably you may feel your bank charge claim will fail, but please be assured that this is not necessarily so. The OFT will be carefully reviewing the judgment and could recommence its legal challenge through the High Court on a different premise. However, we must advise you that this could be a very lengthy procedure.
Brunel Franklin intends to pursue cases vigorously and without delay.
The OFT has said further steps will be announced in December.
Please continue to check our website for further updates.
Please note, the recent ruling on Bank Charges will NOT affect any other claims services Brunel Franklin offer.
Brunel Franklin specialise in helping people win compensation whenever they have been mis-sold a financial product or been over-charged.
We endeavour to put money back where it belongs, in your pocket!
Bank Charges Update – November 2009
It has been announced that on the 25th November (Wednesday) The Supreme Court will reveal its decision in the long running bank charges case.
This is one of the two decisions that are needed before the stay on bank charges can be lifted. The other ruling is from the Office of Fair Trading.
Brunel Franklin is cautiously optimistic that this will be another significant step forward, but it is unlikely to have an immediate impact on your claim. We will issue a further update next week when we have received and considered the ruling.
If you have changed any of your contact details since your original application please email us at .(JavaScript must be enabled to view this email address) with your new details so we can deal with your claim as efficiently as possible. Alternatively, you can call us on FREEPHONE 0800 051 54 51.
The delays in the processing of your claim are unfortunately entirely beyond our control. However, we would like to thank you for your continued patience.
Latest News on claiming back your bank charges.
The House of Lords hearing is now complete. The hearing at the House of Lords, the latest stage in the historic test case, ended on 25 June 09. We now have to wait for its decision on whether charges can be subject to fairness rules. This decision is expected to be made around October time.
We are also waiting for the OFT to say whether it thinks bank charges are actually unfair. It has announced it is going to look at the terms of HSBC, Lloyds TSB and Clydesdale Bank first to make the process quicker.
The FSA Waiver on processing bank charges claims expires on 26th July 2009. However, the waiver has already been renewed twice and is expected to be renewed again.
Brunel Franklin will continue to monitor the situation closely and will be in touch as soon as we have some more news.
If you have changed any of your contact details since your original application we would be grateful if you could call or email us so that we can deal with your claim as efficiently as possible. Please email .(JavaScript must be enabled to view this email address) or call 0800 051 54 51.
If your personal details haven’t changed no further action is required by you at this time. We would like to thank you for choosing Brunel Franklin
Bank charges update February 2009
Good News!
Today it was decided that the banks appeal against the High Court Ruling has failed, this should eventually lead to the lifting of the hold on Bank Charges claims.
Unfortunately this decision does not mean we are now able to progress your claim. All Bank Charges cases remain on hold pending a ruling by the Office Of Fair Trading and a possible further appeal by the banks.
Brunel Franklin will continue to monitor the situation closely and will be in touch as soon as we have some more news.
If you have changed any of your contact details since your original application we would be grateful if you could call or email us so that we can deal with your claim as efficiently as possible. Please email .(JavaScript must be enabled to view this email address) or call 0800 051 54 51.
If your personal details haven’t changed no further action is required by you at this time. We would like to thank you for choosing Brunel Franklin.
Bank charges update – January 2009
You may have read recently in the National Press that Bank Charge Claims have been delayed further as the Financial Services Authority (FSA) announced that it is extending the waiver that allows banks not to pay out on claims. You may have to wait for at least a further six months to learn if you will receive compensation.
We would like to assure all Bank Charge clients of Brunel Franklin (formerly Conkers) that your claim is still active and we are monitoring the Bank Charge situation very closely. Brunel Franklin will contact you via email once any further decisions have been made.
No further action is required by you at this time.
I would like to assure you again of our best attention and would like to thank you for choosing Brunel Franklin in assisting you with your Claim.
Bank charges update – October 2008
On the 28th October the banks will begin an appeal in the High Court. They are arguing against the decision that bank charges are subject to ‘fairness rules’. The appeal is expected to last for 6 working days and cover judgements into current and historic contract terms.
What does this mean to you?
Unfortunately it means that there is very little chance we can proceed with your claim until a final judgement has been made. Rest assured that we will be in touch with you when this matter is resolved in the Courts and claims are resumed. Please note however that this could still take several months.
If you feel you are in Financial Difficulty we may be able to process your claim immediately. Please call 0800 051 54 51 for more information.
24th April 2008 – HIGH COURT RULING
We refer to the recent high court ruling in relation to the Test Case brought by the Office of Fair Trading (OFT) against a number of banks/building societies in respect of unauthorised bank overdraft charges.
Basis Of Case
In the first instance, it is important to note that the Test Case was to establish whether the “Consumer Contract Regulations” apply to the banks’ Terms & Conditions. The case was NOT about whether the level of unauthorised overdraft charges currently and previously charged were unfair.
Ruling
(1) The Judge – Mr. Justice Andrew Smith – ruled that the Consumer Contract Regulations do indeed apply. This paves the way for the OFT to investigate the level of unauthorised overdraft charges and decide what a fair charge should be.
(2) The judge also ruled that the banks’ terms and conditions were plain and intelligible.
Implications for Frozen Bank Charge Re-Claims
When the Test Case was initiated, the Financial Services Authority (FSA) granted a “Waiver” to banks permitting them to stop processing existing claims in respect of unauthorised overdraft charges as well as future claims. Furthermore the Financial Ombudsman Service (FOS) refused to hear any appeals. Cases being progressed through the courts were also put on hold (“stayed”).
We await a decision from the FSA as to whether the Waiver will now be lifted in light of the ruling, or whether it will remain in force until the outcome of any potential Appeal is known. The banks have a limited period of time to lodge any such Appeal. FOS are likely to follow the FSA’s lead in this matter. Meanwhile, cases in the court system remain “stayed” until the end of May.
What To Do Next
We will contact you once we have received a full update from the FSA as to the position of the Waiver and when the processing of claims by the banks is likely to re-start.
Yours sincerely,
The Brunel Franklin Bank Claims Team
