Assuming then that the OFT confirms its preliminary view that bank charges have been historically excessive and therefore unfair: --

What level of compensation would be offered as part of the repayment schemeicon?

·The standard county courticon and Ombudsmanicon 8%
·or a larger rate of interesticon?

Both the financial ombudsman and the FSA make it clear that compensation awards should be calculated in the way which restores any losses to the customer.

If customers decided to litigate might they be able to claim restitutionary damages? (disgorgement of profits earned as a result of unjust enrichmenticon).


After the heat - post test case issues in full