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The OFT V The Banks .... What this means for you


saintly_1
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Hi Saintly.

 

Zoots post states that

3. The law of penalties does not apply to overdraft charges because the charges are not payable on a breach of contract.

 

But as the judge was only looking at current T&C's, this is only true for these T&C's, right?

 

I was under the impression that the older T&Cs were very specific that this was a breach, especially Barclays.

 

This has been touched on in this thread:

http://www.consumeractiongroup.co.uk/forum/oft-test-case-updates/139905-oft-wins-bank-charges-20.html

 

Can you, or Zoot, or another expert clarify this point?

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