So this could be my last post on this topic for a while. It looks like consumers have been royally stitched up by the banks and the OFT. Yesterday the news came out that the OFT and the major banking groups have agreed to a test case. This has had the effect that the FSA is now telling banks they don’t need to deal with complaints, the Ombudsman can also not deal with complaints and all current court action is likely to be stayed until the test case is heard.
None of the consumer groups involved in the bank charges revolt were informed about this despite the decision allegedly being made ‘in consultation’ with them. This test case might take anywhere from a year to two years to be heard.
I am not the only person who has been fobbed off on the phone for the last 6-8 weeks regarding settlement letters, and the banks have clearly been telling staff to put us off so this announcement could be made. However I now wonder whether the verbal offer I received on the phone counts, as current offers made still have to be resolved.
This does little to increase my faith in the banks, FSA or OFT quite frankly. It’s coincided nicely with the Parliamentry summer break, the banks get a year or more to mobilise their vast litigious assets, and the consumer will get shafted in courts.
I’m quite jealous of the people who managed to get their settlements in before this, my only consolation being that if I had started court proceedings when I said I would, it would now still be ‘stalled’ in court, and depending which way the test case goes, my complaint is lodged with my bank already, which if it goes in the consumers favour, would have meant that any court claim would have been wasted effort.
Still pretty sick about the whole thing, although unlike some people on the forums I haven’t actually been spending the money I thought I was going to get already (tut tut). My plans for getting a laptop this year though are now absolutely on hold!
