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OFT show teeth - maybe?


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Guest HeftyHippo

I don't think so, the OFT will make annoucnements but don't take action. In the latter report in the Herald about fims issuing proceedings agaist Socts consumers in english courts, the OFT sent a warning to creditors and DCAs, but a month later, it was still happening, If the OFT were serious, it would take strong action against the DCAs making those threats, and the creditors who hire the DCAs. But they haven't. So everyone will continue ignoring the OFT.


In the first case about a Durham man refused a credit licence,. yes, that's easy to do. One man who isn't in business. Elsewhere, on this site, I reported a case where it took 2 years for the OFT to take action against a company who had their licence withdrawn but continued to trade. As for the big companies like banks - forget it. The OFT don't have the stomach to fight them, and if they did withdraw a licence, they would be sacred stiff that the bank would win an appeal and the OFT would be hit for a claim for loss or earnings as a result of the withdrawal.


The OFT are totally gutless and simply go through the motions.

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