UK High Court Halts Probe Into Overdraft Fees

Law360, New York (November 25, 2009, 4:56 PM EST) -- In a big loss for consumers, Britain’s highest court has put an end to an antitrust regulator’s probe into whether overdraft fees charged by HSBC Holdings PLC, Royal Bank of Scotland Group PLC and six other U.K. lenders are fair.

On Wednesday the Supreme Court overturned two earlier rulings that found that the Office of Fair Trading could press forward with its look into whether overdraft fees should be governed by laws regulating unfair terms in consumer contracts.

“The banks may not be the most popular...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.