Bank Charges Campaign Continues

[johnnymitch]

Good for you Termi ,, I remember that starting ... go for it ... I'll certainly sign it ...

[determindator]

Hi JM:-) I've just emailed to the dept who can look into it. I will reclaim it!

[caro]

My OH sent an email using the Which? template back in June.

 

Dear Jeremy Wright

I am writing to ask you to urge the government to take strong action against the banks over

unarranged overdraft charges. Banks make a huge amount of money from these charges so I do

not believe they will make changes that deliver real benefits to people like me unless the

government takes action and forces them to change their approach.

Like many of your constituents, I was very disappointed by the Supreme Court decision that

denied the OFT the right to assess banks’ terms and conditions on overdraft charges for fairness.

Some of the charges for unarranged overdrafts seem completely disproportionate and are difficult

to understand. You generally don’t even know when you’ve been charged until after it has

happened and it is hard to believe that these charges are cost-reflective to your bank. Getting hit

with a charge can often make your money problems worse.

The Coalition agreement clearly states that the Coalition “will introduce stronger consumer

protections, including measures to end unfair bank and financial transaction charges”. I

understand the government is currently considering the case for changing the law but it is obvious

the banks will campaign relentlessly against any tough changes and will try and secure support for

a voluntary approach. I am concerned this will just result in more years of no action and unfair

charges. I would therefore be grateful for any assistance you could offer in making sure the

consumer voice isn’t drowned out and ensuring the banks don’t, yet again, manage to wriggle their

way out of reforms.

I was very pleased to see the pledge in the Coalition agreement and hope you will help ensure

that the government stands by their promise. The banks have enjoyed a huge amount of taxpayer

support and I believe it is about time that they were made to charge consumers in a fair manner

Yours sincerely,

 

This is the response he got back this week.

 

 

Thank you for contacting me about overdraft charges and I am sorry for the delay in responding. Although interest rates are at a record low, charges on unarranged overdrafts have not fallen proportionately.

The Government committed in the coalition agreement to introduce stronger consumer protections including measures to end unfair bank and financial transaction charges. This commitment is being taken forward as part of the joint Department for Business, Innovation and Skills and HM Treasury Consumer Credit and Personal Insolvency Review. Following a call for evidence, the Government is now considering the available evidence before publishing specific proposals.

More broadly, the Government is taking action to curb unsustainable lending. The Consumer Credit Act came into effect in February. The Act gives consumers up to 14 days to cancel many new loan agreement and the option to make partial early repayment on loans. Lenders are also required to give borrowers standardised, pre-contractual information to help them compare loans, ensure customers understand their loan, and check a borrower’s creditworthiness before agreeing a loan.

I can assure you that Ministers are actively considering the broader points you have raised about overdraft charges.

Thank you again for taking the time to contact me.

Yours sincerely,

Jeremy Wright MP

Edited August 21, 2011 by caro
Type in text of letter

[Night Owl]

Night Owl, I thought of something you might like to ask your MP about, although you might need to do a bit of homework on it first.

 

I was thinking about what the Supreme Court judges said about there may be scope for charges to be unlawful. Perhaps you could ask your MP if anyone is doing anything to look at what was said to further investigate if bank charges are indeed unlawful.

 

If a senior judge has said that they are, then surely it warrants further investigation.

 

Cheers for that Caro

 

PS can't read your O/H's reply above!! tried enlarging it but it's all blurred ....................or is it just the wine I'm on!!!!!

[caro]

It'll be the wine NO. Try watering it down a bit!

 

On second thoughts I'll have another go with it.

[Night Owl]

hic!

[determindator]

Hi Caro,

 

I opened attachment but the word lettering was small and not in focus, I did enlarge but just went more out of focus. Maybe an email for me is better.

[caro]

I've typed in the letter now.

[determindator]

Thanks Caro.

[caro]

Just found an e-petition to the Government that I think is rather good, although not got many signatures yet.

 

When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.

 

http://epetitions.direct.gov.uk/petitions/6571

[johnnymitch]

Maybe time to shake their complacency a bit caro ... there is another petition I saw today managed to get 100,000 signatures .. and should now be investigated by parliament .. soo we need to aim high .. get everyone involved ..an ACB ! (all Caggers Bulletin ! LOL )

[caro]

Yes I saw that Johnny about the Hillsborough disaster. It's how to motivate people that's the problem.

[ims21]

Just found an e-petition to the Government that I think is rather good, although not got many signatures yet.

 

 

 

http://epetitions.direct.gov.uk/petitions/6571

 

 

Well I've done my bit and signed......every little helps

 

ims

[Night Owl]

Hi folks.

 

Today I have had a very productive meeting with my MP.

We discussed everything to do with Bank Charges and their lasting effects on vulnerable people, and the way to take this issue forward in Parliament.

 

Please go and see your MP's and tell them what you think of the Banks actions over Bank Charges and how they have affected you.

If you can't see them, E-mail them.

[caro]

Thanks ims. The petition needs to be publicised. I don't know if the person who started it is a cagger or not. Perhaps citizenb could promote it in the newsletter. That'd be a start and if we all put it a link in our sigs maybe others will pick it up.

 

Glad to hear the meeting went well NO. It's not long until the ICB recommendations will be considered by Parliament so I agree with you. MPs need to know the views of the people who elected them,

[ims21]

My signature has been duly amended!

 

Did a little bird tell me that there was a birthday a couple of days ago caro? Hope you had a goodie.

 

ims

[citizenB]

Thanks ims. The petition needs to be publicised. I don't know if the person who started it is a cagger or not. Perhaps citizenb could promote it in the newsletter. That'd be a start and if we all put it a link in our sigs maybe others will pick it up.

 

Glad to hear the meeting went well NO. It's not long until the ICB recommendations will be considered by Parliament so I agree with you. MPs need to know the views of the people who elected them,

 

Ok, 2 more added.. after they send the links..

 

 

will add to my signature.. and arrange for it to go in the newlsetter next week

[caro]

My signature has been duly amended!

 

Did a little bird tell me that there was a birthday a couple of days ago caro? Hope you had a goodie.

 

ims

 

That little bird needs shooting! Thanks ims it was a goodie! Had a brilliant time!!

Ok, 2 more added.. after they send the links..

 

 

will add to my signature.. and arrange for it to go in the newlsetter next week

 

Thanks CB. Little acorns and all that.

[Desperate Daniella]

I'm bemused. I signed a couple of days ago, and I'm sure it said 15 signatures then, and it still says 15 signatures.

[ims21]

Hi DD

 

Maybe its the government massaging figures again?

 

ims

[Desperate Daniella]

Well, I'm not 100% certain, but maybe we should check every couple of days.

 

I remember signing another No. 10 Petition some time ago, but then you could see the signatures. Now in the FAQs it says you can't, so how is anyone supposed to check that their signature is actually on there?

 

Maybe the site team members who haven't already signed, and their families/friends could all sign on one day and then it would be possible to check if the number of signatures has risen to reflect this?

 

DD

[Desperate Daniella]

CAG has thousands of members, and many people are on this thread, so I find it absolutely astonishing that there are apparently only 15 signatures in support of this!!!

[Desperate Daniella]

CitiB,

 

If you want to add the Petition link to my signature, please do.

 

DD

[ims21]

CitiB,

 

If you want to add the Petition link to my signature, please do.

 

DD

 

Hi DD

 

Can you not do it yourself through your control panel?

 

ims

[Desperate Daniella]

I have never even managed to post a link successfully despite following the instructions to the letter, and I have tried to post about 100.

 

I'll have a go tomorrow, but with my (lack of) expertise it would probably be much quicker if someone on the site did it.

 

DD