The QC for Royal Bank of Scotland, Laurence Rabinowitz, has continued to defend the current system of overdraft charges in the case currently before. Mr Justice Andrew Smith in the High Court suggesting "that bank customers prefer today’s system under which they only pay charges if they go overdrawn".
The eagerly anticipated High Court test case bringing the Office of Fair Trading and eight major High Street lenders face-to-face, has finally begun and already been referred to by one QC as stirring up “a hornets’ nest”.
Laurence Rabinowitz QC defending the Royal Bank of Scotland Group said, "A hornets' nest had been disturbed and something had to be done".
The Office of Fair Trading's test case against 7 banks and Nationwide Building Society concerning unauthorised bank charges was due to commence today at 10.30am.
The case is being heard at the International Dispute Resolution Centre.
Test Case Delayed By Judge's Commitments
Other preceding commitments for the High Court Judge have prevented the test case brought by the OFT, against seven leading banks + Nationwide from proceeding.
The case is still expected to start this week but the delay will inevitably cause concern to many people hoping to recover charges which often run into thousands of pounds.
Let Battle Commence
Today see's the start of a test case in the High Court that could change the face of UK banking forever. Seven major banks and Nationwide Building Society are being challenged by The Office of Fair Trading (OFT) to justify the charges made for unauthorized overdrafts and for returning unpaid items.
