Posted by Paul
Last November I was fuming when I opened a letter from my bank stating: "We acknowledge receipt of your complaint about bank charges. We believe though that the charges are fair, transparent and lawful."
According to the BBC, the cost of employing a bank clerk to bounce a cheque is not more than £2 each time a customer goes overdrawn.
For a task that costs less than £2 to accomplish, some banks clobber customers with an outrageous £40 charge, and then have the gall to call such behaviour "fair".
Obscene would be more fitting.
I was cock-a-hoop though this morning when I breezed into the office to discover the latest development.
A judge has decided that the Office of Fair Trading (OFT) can apply consumer contract regulations to decide if bank overdraft charges are fair or not.
Mr Justice Andrew Smith said the judgement did not necessarily mean the charges were unfair.
It may take months, but it is surely now only a matter of time until billions of pounds are returned, rightfully, to those who have been grossly overcharged.