As many will be aware, the OFT has recently decided that it will not be conducting any further investigations into the fairness or otherwise of bank charges for unarranged overdrafts under the Unfair Terms in Consumer Contract Regulations. However, the OFT has indicated that some changes do need to be implemented because the bank’s processes are not transparent and the charges made can be difficult for consumers to understand. The OFT will be liaising with banks and consumer groups during the coming months and will report on progress in the Spring.
Rebecca Latus
