Latest Updates

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

27th July 2007 – IMPORTANT ‘BANK CHARGES’ ANNOUNCEMENT

ConkersClaims, a division of Brunel Franklin & Company Limited, has filed an action in the High Court against a number of Banks, in an attempt to obtain a binding ruling from the Court, that excessive bank charges are unlawful and should be refunded to the consumers.

Existing customers:

The Financial Ombudsman service (FOS) is suspending further processing on complaints submitted tot them pending the outcome of the test case. Also, the Financial Services Authority (FSA) and told the Banks that they can put cases “on hold” pending the outcome of the test case.

We are optimistic that the Courts will rule against the banks. In the meantime, cases may take some time to resolve. We are working behind the scenes with professional advisers to ensure that customers are not unfairly disadvantaged whilst this matter is before the courts.

Potential Customers:

ConkersClaims will fight on your behalf and still accept your claim, which we will process until such time as a ruling is made. We cannot guarantee how long this will take, but will advise our clients accordingly.

SO DON’T DELAY, START YOUR CLAIM TODAY!

Frequently Asked Questions