Britain’s main consumer watchdog and the big high-street banks will lock horns this week in a court case that could change the face of UK banking.
The test case beginning on Wednesday aims to resolve the uncertainty over bank penalty charges, which sparked a huge consumer rebellion last year.
If the Office of Fair Trading (OFT) wins, billions of pounds’ worth of charges for unauthorised overdrafts and bounced cheques could be refunded to account holders. But, some commentators say, it could also mean the end of free banking. If the banks come out on top, millions of people will continue to be hit with excessive and unfair fees, according to the consumer organisation Which?
