Thread: Bank charges issues post test case - Third Party loans

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





Third Party loans

A large number of people will have taken out loans effectively to replace money taken from them unfairly by the banks. Many of these people will have been obliged to borrow from sub-prime lenders because their credit ratings will have been damaged by placing of bank-charges-related entries onto their credit files.

·Will a provision be made by the FSA or by the banks for the reimbursement of interest where the 3rd party loans have been taken to replace money unfairly taken by banks?

After the heat - post test case issues in full