FinanceBAM News

The BBC reported yesterday that Llyods TSB are the first bank to win its case against unfair bank penalty charges. There has been a debate within the press and media to whether the charges imposed by banks for over drawing and, late payment were actually legal.
But in this case District judge Cooke from Birmingham courts ruled that these were legitimate penalty fees. However it has been mentioned that because the ruling was from a district judge it does not hold any binding with other courts such as the high court.
Many other claimants have been successful, only because banks settled out of court to avoid publicity or any costs. This trend may now change with this ruling yesterday. More banks may now, take a chance and face the judge with these types of claims.
Mr Berwick the claimant was annoyed at the judgement and has said he may appeal against the decision.
This may also prevent other potential claimants from going through the process, in the worry they may lose their case.