Consumers Should Never Again Pay The Price For Inadequate Legal Protection
Tuesday 22 December 2009
The Consumer Council has said consumers should never again pay the price for inadequate legal protection.
Responding to the Office of Fair Trading’s (OFT) announcement today,[a] Antoinette McKeown, chief executive of the Consumer Council said: “Many consumers believe the charges they have paid in the past, and continue to pay, for slipping into the red are unfair. They courageously challenged their banks but they have been let down. Following a lengthy legal process it is clear that existing consumer protection is inadequate.
“Consumers’ confidence in banks is at a low and they feel there has been a lot of resistance in addressing their concerns. We support the Government’s commitment in the Pre-Budget report to take action if banks do not change voluntarily. Legislation takes time to draft and implement so this work needs to begin now.” [b]
Consumers with an existing complaint about bank charges can visit www.consumercouncil.org.uk which has updated information and links to the Financial Ombudsman Service (FOS), the Financial Services Authority (FSA) and the Office of Fair Trading (OFT).
- Consumer Council media contact: Keelin Kelly, telephone, 028 9067 4807 or e-mail, kkelly@consumercouncil.org.uk
- The Consumer Council is an independent consumer organisation, working to bring about change to benefit Northern Ireland’s consumers. The Council campaigns for high standards of service and protection and a fair deal for all. It also carries out research, gives advice and publishes reports and other publications. It deals with individual complaints about buses, trains, planes, ferries, natural gas, electricity, coal and water.
- For more information, visit our website at www.consumercouncil.org.uk
[a] The Office of Fair Trading announced on 22 December that it will not continue its investigation under the Unfair Terms in Consumer Contracts (1999) into banks’ charges for slipping into the red.
For further information on how to reclaim unfair bank charges, click here
