TIMES ONLINE: Britain’s bankers received a double boost yesterday as they celebrated a landmark court victory over unauthorised overdraft fees and saw off the threat of a crackdown on pay.
Consumer groups reacted with dismay as the Supreme Court ruled in favour of the banks in the long-running legal battle over £10 billion in overdraft charges. Millions of customers had hoped to be reimbursed. Instead, the banks can keep the cash.
In addition, the Government’s Walker review stopped short of draconian plans to name hundreds of the highest-paid bankers and dropped or watered down other proposals.
The two judgments will come as relief to Britain’s bankers who feel under siege — resented for taking £1.3 trillion in public money, loans and guarantees and blamed for triggering the longest recession of modern times. >>> Patrick Hosking, Financial Editor | Thursday, November 26, 2009
