Overdraft charges review
Campaigners increased pressure on the OFT to support consumers against the high charges banks demand of their customers when they issue penalties for exceeding an overdraft limit and late payments. The OFT argued that £25 charges were excessive and should be illegal. The OFT will shortly announce their final decision within a few weeks.
Overdraft charges are now being highlighted as customers are routinely charged £39 when they exceed their overdraft limit. It has been found that during the past two years banks have increased overdraft and credit card charges by around 40 per cent. The large high street banks have ammassed an enormous £34 billion during 2006. | 
