http://www.unfair-bank-charges.org.uk Solid advice to help reclaim unfair, unethical, illegal bank charges. Take a stance together. Thu, 14 Aug 2008 15:35:37 +0000 http://backend.userland.com/rss092 en Monday will see one of the UK's biggest banks, Barclays, cut the charges it implements for unauthorised overdrafts, bouncing cheques and returned direct debits – a decision which could prove to be a major victory for the consumer. Consumer action groups are praising Barclays' initiative to cut its bank charges ... http://www.unfair-bank-charges.org.uk/news/07088/barclays-scraps-unfair-bank-charges-from-monday.html Liverpool Victoria (LV=) Banking Services (LVBS) has been fined £840,000 by the FSA for mis-leading customers on the sale of Payment Protection Insurance (PPI). The penalty was imposed for "failings in relation to PPI offered to customers who telephoned LVBS seeking unsecured personal loans between 14 January 2005 and 8 August ... http://www.unfair-bank-charges.org.uk/news/07087/840000-fine-for-lv-for-mis-selling-ppi.html Lloyds TSB charges customers who go into the red with a massive £165 charge, according to research from Moneynet.co.uk. This month, the OFT announced that banks are making £8.3billion a year from unfair bank charges, but Moneynet.co.uk's Andrew Hagger says that is only telling half the story. "The OFT’s research does not ... http://www.unfair-bank-charges.org.uk/news/07086/lloyds-tsb-hammers-customers-with-hefty-bank-charges.html A student from Cheltenham says she has been charged more than £800 for going just 8p overdrawn. Laura Gibson, 20, claims that she is now being threatened with legal action by her bank, Lloyds TSB, over the fine. Ms Gibson claims the whole debacle started in September 2007 when, after buying ... http://www.unfair-bank-charges.org.uk/news/07083/more-than-800-of-charges-for-the-student-8p-in-the-red.html Banks have effectively been given a £1.3billion bonus following a decision by the Financial Services Authority (FSA) to put the handling of unfair bank charges complaints and refunds on hold for a further six months. The FSA originally put a waiver in place last July following an announcement from the Office ... http://www.unfair-bank-charges.org.uk/news/07081/banks-could-rake-in-a-further-13billion-as-bank-charges-case-drags-on.html Banks have threatened to end free banking after being accused of ripping off customers. Yesterday's report by the Office of Fair Trading (OFT) criticised bank's practices that earn them an estimated £8.3billion in revenue from bank charges – more profit than from savings and credit cards combined. The OFT estimated that customers ... http://www.unfair-bank-charges.org.uk/news/07080/banks-threaten-to-end-free-banking-after-it-is-revealed-they-make-83billion-from-charges.html Banks and financial providers make a whopping £2.5 billion profit annually from unauthorised overdraft fees, figures due to be published by the Office of Fair Trading (OFT) are expected to reveal later this month. The watchdog's market study of current accounts and linked unauthorised overdraft charges will for the first time ... http://www.unfair-bank-charges.org.uk/news/07079/banks-rake-in-25-billion-a-year-from-overdraft-charges.html Now that the banks involved in the High Court test case, which tested whether or not bank charges can be tested for fairness, have lodged their appeal against the decision in favour of the Office of Fair Trading, customers are wondering what their next step is. Unfortunately, bank customers ... http://www.unfair-bank-charges.org.uk/news/07078/what-next-for-victims-of-unfair-bank-charges.html Eight of the UK's biggest lenders are set to contest the High Court ruling which has allowed the Office of Fair Trading to challenge the fairness of bank charges. Last month, Mr Justice Andrew Smith made a judgment that banks charges are subject to the Unfair Terms in Consumer Contracts Regulation ... http://www.unfair-bank-charges.org.uk/news/07077/banks-set-to-challenge-bank-charges-judgment.html If the consumer is victorious in the unfair bank charges battle the masses could lose out, according to MoneyExpert.com. The price comparison site says that if further rulings on the issue of bank charges go the consumer's way, banks are likely to look for alternative sources of revenue and this could ... http://www.unfair-bank-charges.org.uk/news/07076/victory-on-unfair-bank-charges-could-see-the-majority-worse-off.html