Gordon Brown orders banks to refund billions in overdraft fees: will they comply?

Britsh PM Gordon Brown has told the major banks they should refund billions of pounds to the countless customers who were ripped off by being charged ridiculous overdraft fees and charges. This move by Brown is a major breakthrough for customers who have been involved in a long running, and often seemingly futile, battle with the banks.
The sums involved will be massive, adding up to more than £4billion, and be relevant to current account charges dating back as far as mid-2001.

For many years people, including students and pensioners have been hit with these charges often running to more than £100 after going only a few pence overdrawn. I myself have been a victim of this form of daylight robbery. The Office of Fair Trading is now expected to win the right to rule that these charges were too high in the original test case that is now being considered by the Supreme Court.

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