Should investment and personal banking be separated?

The investment banking business has become a cartel according to Vince Cable – rewarming the discussion about retail and investment banking. “In order to make our banking system safe, we have got to break them up,” Cable proposed in last night’s debate between the three want-to-be-next-Chancellors. The topic has been a hot potato for a while [...]

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Bank customers to get option to avoid overdraft charges

Bank customers are soon to be offered a chance to avoid unauthorised overdraft charges, the Office of Fair Trading said yesterday. The OFT was in talks with the British Bankers’ Association over charges on unauthorised overdrafts over years and are now said to have agreed on an arrangement to opt out of unarranged overdraft facilities. [...]

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OFT backs out on overdraft charges investigation

The Office of Fair Trading (OFT) has decided to drop its investigation in whether or not bank charges for unauthorised overdrafts are fair. This comes about a month after the Supreme Court’s decision to enormously limit the trading watchdog’s resources to look into that matter. Since then, the OFT was consulting on how to carry [...]

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Supreme Court backs banks on unauthorised overdraft charges

Millions of bank customers hoping to get their unauthorised overdraft charges refunded were disappointed today. The UK Supreme Court, who decided on the matter of fairness of unauthorised overdraft charges by banks announced that the proceedings were fair. Thus, the highest court overturned earlier court rulings and put an end to the Office of Fair Trading‘s (OFT) [...]

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