At least it appears it has said no on the piece of legislation used by the OFT. It also appears that the judge has hinted in his ruling that the OFT could potentially have a case however if it uses another clause in the Unfair Terms and Conditions in Contracts laws (UTCC).
Many who have been trying to reclaim bank charges levied against them by the banks to the tune of up to £40 for going even £1 overdrawn on their accounts were evidently disappointed but even more determined to carry on the fight.
One spokesman for the banks has been quoted as saying “enough is now enough and it is over”.
However the website moneysaving expert run by Martin Lewis has declared that although today’s judgement was a blow, that a ‘Phoenix has risen from the flames’ thanks to the judges hints.
- Should Banks be made to repay the charges?
- Should free banking for some be funded by those who can least afford it?
At the moment it sounds like the issue is far from dead in the water.