Bank Penalty Charges
Campaign to stop unfair bank charges
- A protest was held at 2pm on the 1st of December to demonstrate that the Government and OFT have failed to take action against banks and credit card providers who are unlawfully penalising their customers.
- Around 100 protestors gathered to display their anger towards the OFT and Government.
- Around 50 protesters attempted to enter the government building and were refused entry.
- The OFT demanded to speak to only one representative and ended up locking the door on the protesters.
- There were mounted police on hand to keep the protesters under control. Camera crews from press and television were also there to capture the tension as the crowd attempted to enter the building.
A big thank you to every one that turned up to the Rally. Your ongoing support is appreciated. View the forum postings here. Here are some pictures of the rally:
A large gathering of approx 100 protestors and campaigners gathered outside the OFT.
As tension mounts police attempt to diffuse the situation. An attempt is made to enter the OFT.
The protestors and campaigners are stopped by security guards and the doors are locked from inside the OFT.
Protestors continue to campaign outside, maintaining a siege on the OFT.
Supporters hold up various banners: 'No more unlawful bank charges'
There is also a dedicated part of our forum for helping people reclaim unfair bank chargess.
People who are interested in reclaiming their bank charges should down load our free guide on how to reclaim bank charges.
Banks have continually been levying penalty charges at levels that, for many, create a vicious spiral of debt and poverty. These charges have the biggest impact on the poorest members of society some of whom see their benefit payments swallowed up by bank charges.
Even worse, it is now apparent that these charges are set at levels that are clearly unlawful. In 2006, an Office of Fair Trading ruling made it absolutely clear that consumers are entitled to reclaim their penalties in full; however this has not been carried out by the banks causing many to suffer illegal bank fees and charges.
Stephen Hone, spokesperson for IVA.co.uk and Director of PenaltyCharges.co.uk commented:
"We are protesting because the OFT is not ensuring that consumers are able to reclaim these unfair bank charges back as required by law. This failure is leaving hundreds of thousands of people in unnecessary financial difficulty at Christmas and throughout the year."
To gauge support for the rally, IVA.co.uk have also conducted a survey into public opinion surrounding penalty charges. An astonishing 99% of respondents reported that they consider bank charges to be unfair and too high, with 95% having paid bank charges within the last 12 months. Of those, the majority (59%) paid at least £100 in fees.
"We have huge support against the banks, as has been evidenced by the survey conducted by IVA.co.uk, and we are confident of a big turnout", added Stephen.
About IVA.co.uk:
IVA.co.uk (www.iva.co.uk) is Britain' leading online portal for IVA information. It is a leading authority on debt and finance in the UK. IVA.co.uk was formed in 2005 to help improve understanding of debt and debt solutions in Britain by providing expert information and a live forum alongside a regular roundup of the latest news, statistics, and research from the world of debt solutions.
About Stephen Hone
Stephen Hone, Director of Penalty Charges (www.penaltycharges.co.uk), recently made history with his case against Abbey National over their bank charges, which was settled in his favour for 600% more than his claim, at £5000. Stephen has become the spokesperson for this crusade, appearing on shows such as GMTV and Tonight with Trevor McDonald as well as appearing in the UK's national press regularly. He set up Penalty Charges to help people fight back and recover these unlawful charges from their banks.
About The Consumer Action Group
The Consumer Action Group (www.consumeractiongroup.co.uk) was started to bring this information to the masses and with a mission to bring down unlawful charging. So far 84,000 people have registered with the two websites and thousands of them have recovered millions of pounds in charges.