Thread: Banks - House of Lords

Am I the only one worried about the Appeal going to the House of Lords, when we all know that peers are on the board of directors at most banks or are shareholders. I find this worrying because like MP's surely they will have their own self interests in mind and therefore could not make a fair and honest judgement.
Does this also mean that the FSA will be undermined in all it's recent decisions and that all future FSA decisions will be contested??
How will it be guarenteed that the Lords judgement will be fair and honest? will there be a representative for British Taxpayers at this meeting??
After all, it's not the likes of peers and banking shareholders who are getting into financial difficultly because of the banks greed.:-?

It's going to the Law Lords NOT the unelected peers. If you research all of the Law Lords, they are specifically former High Court judges and extremely knowledgeable in the Law.
You need to use google and search Law Lords. Every single Law Lord has had a career in Law Courts so there is no directorships or interests in the banks' apart from each one having a bank account. This is different to other members of the House of Lords.

Opps OK!! got the wrong end of the stick! well anyway I keep everything crossed until June 22nd.
If the Law Lords rule in our favour, will the banks have to pay up anyway, or we all still have to go through the courts?

Dont too exited- this will probably end up going to the European Court, whichever way the Law Lords decide.

Register of Interests of the Law Lords involved in the case can be found House of Lords - Register of Lords' Interests if it helps set your mind at ease.

Lords involved are detailed http://www.parliament.uk/documents/u...entSitting.pdf

Originally Posted by Beck1968

it's been like waiting for the paint to dry...the day has finaly arrived
will we see change or will we see oppression

well i think this is a strange one this week......

think, if you were one of the law lords how would you best help the people and the country at the moment

I would say in a fair and consistant manner.

refund the charges and make the banking crisis worst :?

if the oft win, and im 99% confident that they will, then refunds will not occur overnight. They will need to conduct a study into what would be a fair charge. However I have my susspiscions that behind the sceen's that is going on now. "just my opinion".


judge them fair and risk the wrath of the people :?

if it was not for the credit crunch i would say this was an open and shut case.

I dont think that the credit crunch would cloud their judgement, as, if a term is unfair and clearly so, then they will base the judgement on a point of law. Irrespepective of its repercusions. And I would not be too worried about the government having a high stake in the banks, as this would also not cloud their judgement. "you only have to look at the previous run-ins between the H.O.Ls and the government.

But in light of the current climate ...hard to say

my view is...:cry:
it will all stay on hold until it's been through the european courts
to open the flood gates at this point, would kill our countrys economic
future.

I personally dont think that it will reach the stage where it will go through the european courts. As the E.C.J will bat the ball back to the county courts of england and wales and say it's down to them to decide on unfair terms. Plus I feel that there will be too much oposition for a stay to remain in place

a very sad week for Caggers i think....BUT
i think we will see the banks brought into line, charges refunded
but at a rate our country can cope with

P.S I am Cagging Barclays on 3 counts & TSB on 1 and i will not stop till i have been refunded

I would try not to be too pessamistic about the outcome of the test case and the repercussions that it will bring

This is going to drag on for years!! Meanwhile, the banks (i'm with Lloyds) are still raking it in. Lloyds have changed their penalities, but I've just found out that if I transfer into an overdrawn account after 3.30pm, it's not counted, as their working day ends at 3.30??? ended up paying £35 for going over 79p. How long can they make this in really drag on for?? Am I going to live long enough to see it happen???? The way it's going, it will be my grandkids that are going to benefit.

The FSA dont mean diddly squat with their pathetic waiver that has helped no one.

Its the OFT who will do everything they can to hammer them once their hands of been untied.