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



Consolidation loans.

Where people have taken Consolidation or other loans to deal with bank charges debt (and many people have) -- they should be able to claim back the interesticon on those loans because effectively they were only borrowing their own money.

·Would this be recognised by an FSA scheme?
·Or would customers have to make specific claims and if necessary litigate?

Once again, the Ombudsmanicon and the FSA has stated that compensatory awards should be calculated to provide a sum which restores any losses to the customer. A mere 8% would not achieve this, where a customer had been obliged to borrow money either from his own bank or elsewhere in order to replace money which had been seized from him by way of bank charges.


After the heat - post test case issues in full