So Those Corrupt Banks Think They Got Away With It?

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Ok, I know this probably shouldn't be in "life", but I got fed up looking for something appopriate! Lol! Most of you from the UK will be aware of this mornings Supreme Court shock ruling, in favour of the banks, regarding unfair/illegal bank charges. 3 Courts so far have ruled in favour of the FSA, but now it's been overturned! My first thought was "someone's been paid off with a huge backhander". I was FURIOUS! I've already got my charges back, but there are thousands of people still awaiting their claim to be heard, who were left in hardship because of banks taking full financial advantage of their vulnerable positions. But I had to do some rooting around to see what's going to happen next, and all is NOT lost! The Supreme Court has advised the FSA that they have been tackling the bank charges under the wrong part of the UTCCR (Unfair Terms in Consumer Contracts Regulations). It has recommended the FSA continue their investigation using clause 5(1) of the act, which states: "A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties rights and obligations, to the detriment of the consumer." So, a term in the contract which allows a bank to impose excessive charges, and increase them at their own discretion, is likely to put the bank in a dominant position, which would not allow the contract term to stand. The clause is still being investigated by the FSA/FSO, but it looks like it isn't over by a long shot, so if you're waiting on a decision, hang in there and wait for the FSO to get in touch - you might just have to reword and resubmit your claim.