UK Money News
22nd May 2008
Banks to challenge charges ruling today?
UK banks are poised to launch an appeal against a High Court ruling that could pave the way for consumers to claim back billions of pounds in fees.
Earlier this month the High Court cleared the way for the Office of Fair Trading (OFT) to examine whether banks can legally impose charges on customers who go overdrawn without permission.
The OFT will also look at charges imposed when a customers' cheque bounces.
However, banks are set to challenge the ruling when the two parties meet today at a case management meeting.
In the event that they do so, the case could subsequently be heard in the Appeal Court and in the House of Lords.
This could delay a final ruling by as much as two years.
When the case was first opened, cases involving customers who had been seeking to reclaim the charges were suspended.
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