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HSBC could take £300m hit if banks lose test case.


Gez
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HSBC says UK bank refunds could cost $600 mln more | Reuters

 

This story was run on the USA Reuters site. This is what HSBC expect to pay should they lose the test case. This figure is after the refunds they have already had to pay out.

 

What can we make of this in terms of how much all banks make from charges? I would expect Nat West & Lloyds figures would be even higher..

 

It is good news to hear that these calculations & some kind of preparations seem to be in motion for this eventuality, although I'll try not to read too much into that because I still have absolutely no faith whatsoever in the OFT & their motives.

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