Banks lose payment protection insurance challenge

  Portal11 11:21 AM 20 Apr 11
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Yay! we are one of those people that have been waiting a year for something to happen, today was a big day..

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  spuds 12:04 PM 20 Apr 11

Whats the betting for another appeal or change of future terms and conditions?.

The finance sector hates losing out on any deal, except perhaps in borrowing public money for their survival. I notice that section 75 of the Credit Consumer Act is under the microscope for 'improvements'. Thje finance houses wanting the better part of the safeguards, with less risk to themselves.

  rickf 16:00 PM 20 Apr 11

HURRAH!! About time but they appealing. Hope they lose again. It has also now been reported that their threats to leave the UK if charges wereraised on their revenue is a lot of nonsense. Seems it's aquestion of whether Govt'mt has the balls and make it fairer for the consumers. They have been getting away with daylight robbery. Dick Turpin of the modern age.

  So Afraid 16:54 PM 20 Apr 11

Me thinks extra bank account charges on the way in the not to distant future then.

  oresome 18:23 PM 20 Apr 11

Quite so, So Afraid.

It was a good money spinner for the banks and will have to be made up from somewhere.

I'd rather it was taken from those that go overdrawn and those that take out loans and leave me with 'free' banking on a purely selfish note.

  morddwyd 20:50 PM 20 Apr 11

I'm afraid I think you're all being a bit naive.

If the law doesn't suit the banks they'll get it changed.

We live in a capitalist society and money is power.

If you doubt that, ask yourself what would have happened if a large non-banking company, say Tesco, had found itself in the position the banks were in some months ago.

They would have gone to the wall, and the banks would have been first in the queue to pick over the assets.

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