OFT drops bank charges case

22/12/2009

There was a blow for those struggling with debt problems today, as the Office of Fair Trading (OFT announced it would be dropping its investigation into unfair bank charges.

The OFT made the announcement after its test case against overdraft charges failed in the Supreme Court last month.

The news will no doubt disappoint the tens of thousands of customers who have outstanding complaints with banks.

The body did, however, note that it still has "significant concerns" about banks' behaviour with regard to the fees, and will now review its options, with the potential for voluntary action from banks or even changes in the law.

If you are struggling to get out of financial trouble, then a Debt Management Plan (DMP) might be for you. Just take a look at our website or talk to one of EuroDebt's expert advisors.

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