Supreme Court President Lord Phillips on overdraft charges

The President of the Supreme Court Lord Phillips explains why they ruled in favour of high street banks over unauthorised overdraft charges. Follow us on twitter at http://twitter.com/itn_news

Category:

News & Politics

Tags:

• overdraft
• charges
• banks
• bank
• fees
• Supreme Court

[Yeebsy]

I would love to know how much the banks have paid these crooks, I bet these 5 judges have just secured a luxurious life style for their great great grand kids.

[pughpughbarneymcgrew]

This stinks of corruption!

[tommypolack]

Those bank charges destroyed my life. When I am unemployed and I can’t find a job, RBS came when I had no money at all on my account and TOOK £120 of money I have never had; and next month charged me another £105 for the charges added on their own debt. STOP IT!!!

On the 29/12/10 my friend was found dead by the police. He decided to hang himself leaving a note “I am too poor for all these rates”. He was 46.

Soon, I will release a case study about how FEES affected my life.

Any help out there?

[bullishbrad]

@Yeebsy they would have long secured that lifestyle way before they became supreme court judges. Judges only interpret that law. If the law (in this case the regulations) are narrow then this will generally be reflected in the judgement. It is the regulations governing the issue that may need to be investigated. Not the integrity of the judiciary.

[ben9345]

I know of one guy who worked for one of the banks that went down fairly early on in this banking crisis. I won't tell you which bank or his name for his own sake. He found out about someone hiding numbers in records lower down the chain to save his job. This guy took the bullet because he was responsible. His reputation was ruined and he lost his job instead and might be prosecuted because people accuse him and other city workers of being corrut but you can't just generalise like that.

[ben9345]

I don't know why everyone thinks the banking system is corrupt. Its not its just capitalism. In our capitalist country, people get money if they have reponsibility. It may not seem like they work as hard as others but I know that the hours most of the most responsible city workers are crippling. And if anything goes wrong they get utterly trashed by the media and everyone else.

[Sheepshaggingtaff]

Lastly, had the supreme court ruled against the banks, they would have had to pay out billions to those unfairly charged. This was another deciding factor in the outcome of the supreme courts corrupt decision. After so much being pumped in from the public purse, it couldn't possibly see billions given back to the peole who have been ripped off by our corrupt banks. Unauthorised overdraft charges line the pockets of the fat cats. Dont fall for the lies saying otherwise!!!!!!!! RANT OVER!!!!!!!!!!

[Sheepshaggingtaff]

The directors of the banks who threaten to quit should be sacked immediately. Greed almost caused the collapse of our entire economy, yet even after the injection of billions upon billions of pounds from the public purse, the greedy directors shamelessly and yes, GREEDILY try and blackmail the government with threats to quit. Shame on you greedy bunch of bankers. The whole system is rotten to the very core.

[Sheepshaggingtaff]

People with huge income like Lord Phillips and his cronies at the supreme court gain substantially from the banks they use. These people will never be in a position like that of the man on the street who accidentally went into the red. Done be dumb enough to fall for the lies of our rotten to the core banking or judicial system. It's all based on greed, greed and more greed. Just look at the greedy bankers now threatening to quit if they dont get there million pound bonuses AFTER the bailout!

[Sheepshaggingtaff]

The people who say the "stupid" customers who go overdrawn would be to blame for a charge for using a current account if the ruling had gone against the banks, have naively fallen for the lies of the whole corrupt banking system. The banks conned the gullible ones into believing that if the OFT challenge had gone against them, the only way to claw back money would be to charge for the use of a current account. Absolute nonsense. Unauthorised overdraft charges simply add to the profits.

[ben9345]

Yeah but have any of you considered the fact that the banks have to pay for you to have free banking and how much that costs? It is over 100 pounds per person! They have to pay for call centres, internet banking, their national branches and everything you get free. How do they pay for it? Well by charging those stupid people who go overdrawn. If they don't want to be charged they should be more responsible. The rest of us manage.

[digitalmidgets]

Time to take to the streets and protest.