Timetable of OFT action on unauthorised overdraft charges
OFT notice that:
- The High Court case is solely about whether the fairness requirement (i.e. prohibition of penalties) applies to unauthorised overdraft charges.
- The OFT is due to decide by the end of the year (2007) whether unauthorised overdraft charges are fair, based on its belief that it will win the High Court point.
- “The OFT will publish its market study on the current account market in December 2007.”
Update, February 2008: There must have been some slippage.
For further information or advice please contact Franck Latrémolière.
Filed under OFT.
