Commenting on today’s decision by the Office of Fair Trading to drop the bank charges case following last month’s defeat in the Supreme Court, Philip Cullum, Acting Chief Executive of Consumer Focus, said:
‘Consumer trust in banks is at an all-time low. This decision will add to the public frustration towards the banking sector. Banks must realise that consumer confidence in the sector is incredibly weak and that real changes are needed.
‘Consumers need concrete assurance that strong levels of protection will be introduced and that there is the scope to challenge the industry on issues such as overdraft charges.’
ENDS
