Consumers Are Right To Be Angry Over Unfair Banking Charges Verdict

Consumers are right to be angry at the decision of the Supreme Court to overturn previous court rulings that the OFT should investigate whether bank charges were unfair. This stinks of wealthy judges backing wealthy banks against the man in the street and the ordinary consumer.

It is quite clear to me that banks charging up to £40 for a customer exceeding their overdraft limit is not only unfair. It is outrageous. Don't forget that the OFT described the charges as "difficult to understand, not transparent, and not subject to effective consumer control".

There needs to be a competition review of banks - particularly now that so many of them are kept afloat using our money. This must cover banking charges. The banks must be ready to compensate people who have been unfairly charged. It is not acceptable that banks have treated their customers so badly, whether it be over mis-selling of Payment Protection Insurance or these unfair banking charges.